【NAC】网络访问控制创企ForeScout上市融资$1.16亿

【171027 Siliconangle】Cybersecurity firm ForeScout Technologies Inc., which has built a security platform for “internet of things” devices, is pushing ahead with its initial public offering.

The company on Thursday evening set the price for its IPO at $22 per share, at the upper end of its initial guidance of between $20 and $22 per share, raising $116 million through the sale of 5.28 million shares.

ForeScout offers an enterprise-grade cybersecurity platform that provides visibility into IoT devices the instant they’re connected to the network. The company’s platform integrates with leading network, security, mobility and information technology management products to allow users to control devices when they are connected to the network and accelerate incident response by orchestrating information sharing among various different types of security tools.

Technology IPOs in 2017 have seen mixed success, with companies such as Snap Inc. and Blue Apron struggling while the likes of MongoDB Inc. and MuleSoft Inc. got off to flying starts and are currently trading above their IPO price. But ForeScout’s prospects look rather good if the performance of Okta Inc., the first cybersecurity firm to go public this year, is anything to go by. That company saw its share price jump 38 percent on its first day of trading in April, and it remains well above its original listing price today.

ForeScout is likely to be even more optimistic about its IPO prospects following news earlier today that another cybersecurity firm, Zscaler Inc., has filed confidentially for its own IPO, which it intends to launch before the end of the year.

The company still needs to prove its business model can transform revenues into profit, however. ForeScout’s most recent financial data shows it recorded revenues of $90.6 million in the first six months of this year, putting it on track to beat the $166.8 million revenue it accrued in all of 2016. But that growth has been offset by rising losses. The company posted a net loss of $74.8 million in 2016, and $47.7 million in the current year through July 31.

After its most recent funding round in January 2016, when it raised $76 million, ForeScout was given a valuation of $1 billion, notching so-called “unicorn” status.

ForeScout plans to list on the Nasdaq exchange under the ticker FSCT. Morgan Stanley, J.P. Morgan, Citi, BofA Merrill Lynch and UBS Investment Bank acted as lead managers on the deal.

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