Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Management & Strategy

Varonis Systems Files for Initial Public Offering

Varonis Systems, a provider data governance and protection software for enterprises, today announced that it has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering (IPO).

Varonis Systems, a provider data governance and protection software for enterprises, today announced that it has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering (IPO).

According to the S-1 filing, the company had revenues of $53.4 million in 2012. For 2010 and 2011 revenues were $28.9 million, $39.8 million respectively. For the nine months ended September 30, 2012 and 2013, Varonis had revenues of $34.9 million and $48.9 million, respectively, representing year-over-year growth of 40%. For the nine months ended September 30, 2012 and 2013, the company had net losses of $7.0 million and $9.0 million, respectively.

Varonis IPOThe number of shares to be offered and the price range for the offering have not been determined, though the company could raise upwards of $100 million, according to the filing. Varonis said it has selected to list with the NASDAQ Global Select Market under the ticker symbol “VRNS”.

Varonis makes software that helps enterprises to map, analyze, manage and migrate their unstructured data, and specializes in human-generated data. This human-generated unstructured data includes an enterprise files such as spreadsheets, word processing documents, presentations, audio files, video files, emails, text messages and any other data created by employees.

The company began operating in 2005, and as of September 30, 2013, had more than 2,100 customers.

Morgan Stanley & Co. LLC, Barclays Capital Inc., Jefferies LLC and RBC Capital Markets, LLC will serve as joint book-running managers for the offering, and Needham & Company, LLC will serve as a co-manager.

Written By

For more than 15 years, Mike Lennon has been closely monitoring the threat landscape and analyzing trends in the National Security and enterprise cybersecurity space. In his role at SecurityWeek, he oversees the editorial direction of the publication and is founder and director of several leading cybersecurity industry conferences around the world.

Click to comment

Trending

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Learn how to utilize tools, controls, and design models needed to properly secure cloud environments.

Register

Event: ICS Cybersecurity Conference

The leading industrial cybersecurity conference for Operations, Control Systems and IT/OT Security professionals to connect on SCADA, DCS PLC and field controller cybersecurity.

Register

People on the Move

Mobile security firm Zimperium has welcomed David Natker as its VP of Global Partners and Alliances.

CISA has appointed Jeff Greene as Executive Assistant Director for Cybersecurity and Trent Frazier as Assistant Director for Stakeholder Engagement.

David Chétrit has been appointed the CEO of Kudelski Security.

More People On The Move

Expert Insights