CrowdStrike Holdings, which provides cloud-native endpoint security software for large enterprises, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering. However, the deal size is likely a placeholder for an IPO that we estimate could raise $400 million.
The Sunnyvale, CA-based company was founded in 2011 and booked $250 million in sales for the 12 months ended January 31, 2019. It plans to list on the Nasdaq under the symbol CRWD. CrowdStrike Holdings filed confidentially on February 25, 2019. Goldman Sachs, J.P. Morgan, BofA Merrill Lynch and Barclays are acting as lead bookrunners; Credit Suisse, Jefferies, RBC Capital Markets, Stifel, HSBC, Macquarie Capital, Piper Jaffray and SunTrust Robinson Humphrey are also acting as joint bookrunners on the deal. No pricing terms were disclosed.
