The company has chosen underwriters for the offering, which may be held before the end of 2013 at a company value of $500 million.
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Big data company Varonis Inc. is planning to raise $100-150 million at a company value of $500 million in a Wall Street IPO, says Globes. The company has chosen the underwriters for the offering, which may be held before the end of this year.
Varonis Systems founded in 2005 by president and CEO Yaki Faitelson and CTO Ohad Korkus. Varonis is an innovator and solution provider of comprehensive, actionable data governance solutions for enterprises. The company’s installations span leading firms in the filedes f energy, manufacturing, health care, financial services and technology worldwide. The company patent-pending technology gives organizations total visibility and control over their data, ensuring access to sensitive information only to authorized workers, and prevent its unauthorized distribution.
Varonis headquartered is in New York City, and its development center in Herzliya, Israel.
Varonis has raised $30 million over the years, from Evergreen Venture Partners, Pitango Venture Capital , Accel Partners, and secured a strategic investment from EMC Corporation (NYSE: EMC). The low investment means that the investors and entrepreneurs will make a respectable return on the exit.
Varonis was in acquisition talks a year ago with IBM Corporation (NYSE: IBM) at a company value of $450 million. Although no deal was reached, no one will be surprised if Varonis, like other companies in its field, ultimately ends up as part of IBM or other computer giant.