The wheels on America’s tech IPO train continue to turn. Enterprise data analytics firm Alteryx, the next tech firm in line to go public, has priced its shares at $14 ahead of its listing on the New York Stock Exchange tomorrow (Friday).
That pricing — which comes in at the top of the firm’s range — will see Alteryx, which is listing under AYX symbol, raise $126 million from the nine million new shares it is issuing. On top of that, it could bring in $18.9 million more if underwriters take up the full allocation of shares offered to them at the list price.
Alteryx helps enterprise make more efficient use of data and analytics through its services. It claims a customer base that includes Ford, Nike, Southwest Airlines and Tesco. It brought in revenues of $85.8 million last year, up from $53.8 million the year before. Despite that growth, it carded a net loss is $24.3 million last year for 2016, having previously posted minus $21.5 million in 2015. Investors including Insight Venture Partners, ICONIQ Capital and Sapphire Ventures poured more than $160 million into Alteryx, according to Crunchbase data. The firm closed its most recent $85 million Series C financing round in October 2015.
Alteryx is following fellow enterprise-focused business Mulesoft to the public markets, with Okta and Cloudera among those waiting in the wings to file later. The IPO window is officially open, it seems, despite some uncertainty in January when Cisco snapped up Appdynamics for $3.7 billion on the eve of its much-anticipated listing, which was pegged to be the first tech IPO in 2017.
Snap, of course, has been the year’s hottest tech listing. The company got off to bang, as its share price soared more than 40 percent on the first day of trading to value Snap in excess of $30 billion. Things have calmed down since then and Snap is currently trading at $23.23, that’s up more than one-third on its $17 IPO price.
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