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IPO Profiles: Nutanix leads a pack of five in September

Five VC-backed companies went public in September, compared to two in August, with the proceeds seeing a 435 percent rise to $546 million, compared to $102 million in August.

The unicorn Nutanix Inc, a hyper-converged infrastructure software company, was September’s largest offering, going public for $224 million.

The San Jose, California, company had raised more than $315 million in funding from Blumberg Capital, Lightspeed Ventures, Fidelity Investments and others, according to Thomson Reuters data.

Complete details below on Nutanix and the other four venture-backed companies to go public in the month, which include Tabula Rasa HealthCare, Apptio, Trade Desk and Everbridge.

IPO Profile: Apptio Inc

Company Details

Bellevue, Wash.

866-470-0320

www.apptio.com

Description: Apptio Inc is a United States-based provider of cloud-based technology business management (TBM) software for managing business of information technology (IT). The company offers a software as service (SaaS) products. It offers cloud applications, including Apptio Cost Transparency, which offers features, such as manage cost and investment across user’s application portfolio; Apptio IT Planning, which helps IT finance, budget owners and chief information officers (CIOs) with annual budget, forecast and variance tracking; Apptio IT Benchmarking, which extends Apptio Cost Transparency with side-by-side benchmarks with features, such as peer costs calculated through consistent cost structure and comparing peer benchmarks; Apptio Business Insights, which correlates IT infrastructure and application data, and Apptio Bill of IT, which automates the creation and delivery of pro-forma invoices for IT services. It offers Data Studio, Model Studio and Report Studio under TBM Studio.

IPO Details

Exchange and Ticker: Nasdaq: APTI

Filing Range: 6 million shares @ $13 to $16

Date of IPO: 9/23/16

Offering Price: $16

Closing price on 9/23/16: $22.55

Offering Size: $96 million

Shares Outstanding: 38.2 million

Underwriters: Goldman Sachs & Co, JP Morgan Securities LLC, RBC Capital Markets, Pacific Crest Securities Inc, Bank of America Merrill Lynch, Jefferies & Co Inc, Barclays Capital Group

Company Counsel: Wilson Sonsini Goodrich & Rosati

Manager Counsel: Cooley LLP

Auditor: PricewaterhouseCoopers LLP

Market Capitalization on 9/30/16: $828.63 million

Closing price on 9/30/16: $21.70

Investment Details

Backers

  • Shasta Ventures LP
  • Madrona Venture Group
  • Greylock Partners LLC
  • Andreessen Horowitz LLC
  • Hillman Co
  • Rowe Price Threshold Partnerships
  • Ignition Partners

Financing Rounds

Date      Amount ($M)    Valuation ($M)

11/15/07              $7M       n/a

8/18/09                $14M     n/a

8/20/10                $16.5M n/a

11/4/10                $3.5M   n/a

3/9/12   $50M     n/a

5/14/13                $45M     n/a

Total funding raised: $136 million

IPO Profile: Everbridge Inc

Company Details

Burlington, Mass.

781-373-9800

www.everbridge.com

Description: Everbridge Inc is a software company that provides critical communications and enterprise safety applications that enable customers to automate and accelerate the process of keeping people safe and businesses running during critical events. The company’s software as a service (SaaS)-based platform enables its customers to aggregate and assess threat data, locate people at risk and responders able to assist, and automate the execution of pre-defined communications processes. Its range of applications enable companies, hospitals, agencies, states, cities and towns to address issues related to severe weather and man-made incidents, information technology (IT) outages and cyberattacks, safety of traveling staff, and facilitate regulation-compliant messaging. Its critical communications and enterprise safety applications include mass notification, incident management, IT alerting, safety connection, community engagement, secure messaging and Internet of things.

IPO Details

Exchange and Ticker: Nasdaq: EVBG

Filing Range: 6.25 million shares @ $11 to $13

Date of IPO: 9/16/16

Offering Price: $12

Closing price on 9/16/16: $15.25

Offering Size: $90 million

Shares Outstanding: 26.9 million

Underwriters: Credit Suisse Securities (USA), Bank of America Merrill Lynch

Co-managers: Stifel Nicolaus & Co Inc, Pacific Crest Securities Inc, Raymond James & Associates Inc, Canaccord Genuity, William Blair & Co

Company Counsel: Cooley LLP

Manager Counsel: Goodwin Procter LLP

Auditor: KPMG LLP

Market Capitalization on 9/30/16: $453.93 million

Closing price on 9/30/16: $16.86

Investment Details

Backers

  • ABS Ventures

Financing Rounds

Date      Amount ($M)    Valuation ($M)

  • 5/15/08 $7M       $27M
  • 4/29/09 $2M       n/a
  • 4/8/10 $325K    n/a
  • 9/21/11 n/a         n/a
  • 1/9/15 $1.9M   n/a

Total funding raised: $11.28 million

IPO Profile: Nutanix Inc

Company Details

San Jose, Calif.

855-688-2649

www.nutanix.com

Description: Nutanix Inc  provides an enterprise cloud platform that converges silos of server, virtualization and storage into one integrated solution and connects to public cloud services. The company’s software-driven platform delivers the scalability and pay-as-you-grow economics of the public cloud, while addressing enterprise requirements of application mobility, security, data integrity and control. It has combined Web-scale technologies with consumer-grade design to deliver an enterprise cloud platform that elevates information technology (IT) organizations to focus on the applications and services that manage their businesses. The cCompany refers to its platform as invisible infrastructure as it provides availability and low-touch management, and enables application mobility across computing environments. Its platform is designed to run on commodity x86 servers with off-the-shelf central processing units (CPUs), memory and storage media.

IPO Details

Exchange and Ticker: Nasdaq: NTNX

Filing Range: 14 million shares @ $13 to $15

Date of IPO: 9/30/16

Offering Price: $16

Closing price on 9/30/16: $37

Offering Size: $224 million

Shares Outstanding: 136.4 million

Underwriters: Goldman Sachs & Co, Morgan Stanley & Co, JP Morgan, RBC Capital Markets

Co-managers: Robert W Baird & Co Inc, Needham & Co LLC, Oppenheimer & Co Inc, Raymond James & Associates Inc, Stifel Nicolaus & Co Inc, Piper Jaffray Inc, William Blair & Co, Pacific Crest Securities Inc

Company Counsel: Wilson Sonsini Goodrich & Rosati

Manager Counsel: Fenwick & West LLP

Auditor: Deloitte & Touche LLP

Market Capitalization on 9/30/16: $5,046.92 million

Closing price on 9/30/16: $37

Investment Details

Backers

  • Fidelity Investment Funds II
  • Wellington Management Company LLP
  • Lightspeed Management Company LLC
  • Khosla Ventures LLC
  • Battery Ventures LP
  • Blumberg Capital
  • Greenspring Associates Inc
  • Sapphire Ventures LLC
  • Beijing Capital Investment Co Ltd
  • Morgan Stanley Venture Partners
  • Goldman Sachs & Co
  • Riverwood Capital Group LLC

Financing Rounds

Date      Amount ($M)    Valuation ($M)

  • 4/19/11 $13.2M n/a
  • 10/25/11 $25M     n/a
  • 8/22/12 $33M     n/a
  • 12/12/13 $7.9M   n/a
  • 1/14/14 $96M     $1B
  • 9/9/14 $145M  $2B
  • 9/6/16 $6.5M   n/a

Total funding raised: $315 million

IPO Profile: Tabula Rasa HealthCare, Inc.

Company Details

Moorestown, N.J.

866-648-2767

www.carekinesis.com

Description: CareKinesis Inc is a United States-based company, which operates as a medication management company. The company provides and coordinates medication management and medication distribution for elderly and other ‘at-risk’ populations. It helps organizations to personalize the medication selection and customize the medication packaging. It also improves care transitions outcomes by reconciling medication profiles between multiple care settings. The company also provides pharmacogenomic testing that assures appropriate medication selection for individuals.

IPO Details

Exchange and Ticker: Nasdaq: THRC

Filing Range: 4.3 million shares @ $13 to $15

Date of IPO: 9/29/16

Offering Price: $12

Closing price on 9/29/16: $14.88

Offering Size: $51.6 million

Shares Outstanding: 15.5 million

Underwriters: Wells Fargo Securities LLC, UBS Securities Inc

Co-managers: Piper Jaffray, Robert W Baird & Co Inc, Stifel Nicolaus & Co Inc

Company Counsel: Morgan Lewis & Bockius

Manager Counsel: Cooley LLP

Auditor: KPMG LLP

Market Capitalization on 9/30/16: $222.09 million

Closing price on 9/30/16: $14.32

Investment Details

Backers

  • Radius Ventures LLC
  • Originate Ventures
  • Rittenhouse Ventures
  • New Jersey Economic Development Authority

Financing Rounds

  • 8/17/10 $1.5M   n/a
  • 3/3/11 $1.5M   n/a
  • 2/22/12 $500K    n/a
  • 10/26/12 $500K    n/a
  • 6/28/13 $4.5M   n/a

Total funding raised: $8.5 million

IPO Profile: Trade Desk Inc

Company Details

Ventura, Calif.

805-585-3434

http://thetradedesk.com/

Description: The Trade Desk Inc is a United States-based technology company. The company provides a global technology platform for buyers of advertising. The company provides a self-service platform that enables advertisement buyers to manage data-driven digital advertising campaigns using their own teams across various advertising formats, including display, video and social, and on a multitude of devices, including computers, mobile devices and connected television (TV). The company allows access to non-skippable Advanced TV inventory. It allows users to access data using the company’s Data Management Platform (DMP), score individual users or cookies, manage site lists and tags, optimize campaigns, target based on Internet protocol (IP) address, utilize dynamic creative optimization, and report on every measurable metric all in a single tool. It also offers Facebook Exchange (FBX). The company’s Household Extension allows users to expand targeting to every device on a user’s IP address.

IPO Details

Exchange and Ticker: Nasdaq: TTD

Filing Range: 3.97 million shares @ $16 to $18

Date of IPO: 9/21/16

Offering Price: $18

Closing price on 9/21/16: $30.10

Offering Size: $84 million

Shares Outstanding: 38.2 million

Underwriters: Citigroup Global Markets Inc, Jefferies LLC, Raymond James & Associates Inc, RBC Capital Markets, Needham & Co LLC

Company Counsel: Latham & Watkins

Manager Counsel: Wilson Sonsini Goodrich & Rosati

Auditor: PricewaterhouseCoopers

Market Capitalization on 9/30/16: $1,116.7 million

Closing price on 9/30/16: $29.21

Investment Details

Backers

  • Wellington Management Company LLP
  • IA Ventures
  • Founder Collective LP
  • Hermes Growth Partners Ltd
  • Double M Partners LP

Financing Rounds

Date      Amount ($M)    Valuation ($M)

  • 3/23/10 $2.5M   n/a
  • 6/29/12 $150K    n/a
  • 2/25/14 $20.3M n/a
  • 1/31/16 $60M     n/a

Total funding raised: $83 million

Source: Thomson Reuters

Downloadable Data: ipo-aftermarket-as-of-sept-30-2016

Photo of a Wall Street sign outside the NYSE in New York, courtesy of Reuters/Carlo Allegri