Tenable Holdings, parent of veteran cybersecurity firm Tenable Network Security, celebrated its much-anticipated initial public offering (IPO) by raising roughly $250 million through the sale of 10.9 million shares at $23 per share.
The Columbia, Md.-based company began trading on the Nasdaq Global Select Market on Thursday under the ticker symbol “TENB”.
Shares of the company jumped more than 45% in early trading, reaching nearly $34 per share at the time of publishing, pushing the company’s market cap above $3 billion.
Founded in 2002, Tenable is known for its vulnerability scanners and software solutions that help find network security gaps. The company has more than 24,000 customers across 160 countries, including more than 50 percent of Fortune 500 companies and nearly 30 percent of Global 2000 firms.
In late 2017, Tenable announced a partnership with Siemens that aims to provide asset discovery and vulnerability management solutions for industrial networks.
Before going public, Tenable had raised more than $300 million, including $250 million in November 2015 and $50 million in September 2012.
Currently led by CEO Amit Yoran, former President of RSA and former National Cybersecurity Director at the U.S. Department of Homeland Security, Tenable had revenue of $187.7 million in 2017 and reported a net loss of $41 million for the year.