Tableau Software, which provides interactive data visualization software, raised the proposed deal size for its upcoming IPO on Wednesday. The Seattle, WA-based company now plans to raise $209 million by offering 7.2 million shares (31% insider) at a price range of $28 to $30. The company had previously filed to offer 7.2 million shares at a range of $23 to $26. At the midpoint of the revised range, Tableau Software will raise 18% greater proceeds than previously anticipated. The revised terms would value Tableau at a market cap of $2.0 billion, an increase from its previously proposed market cap of $1.7 billion.
Tableau Software, which was founded in 2003 and booked $143 million in sales for the 12 months ended March 31, 2013, plans to list on the NYSE under the symbol DATA. Tableau Software initially filed confidentially on February 13, 2013. Goldman Sachs, Morgan Stanley, Credit Suisse and J.P. Morgan are the joint bookrunners on the deal. The deal is scheduled to price May 16.