Sumo Logic, which provides on-demand cloud log management solutions to enterprises, filed on Monday with the SEC to raise up to $100 million in an initial public offering.
Sumo Logic addresses cloud-native and traditional on-premise businesses that seek to build, manage, and secure modern applications while undertaking digital transformation and cloud adoption initiatives. The company serves large enterprises as well as small and mid-market businesses, with customers such as 23andMe, JetBlue, Netflix, PagerDuty, Petco, and ULTA Beauty.
The Redwood City, CA-based company was founded in 2010 and booked $170 million in revenue for the 12 months ended April 30, 2020. It plans to list on the Nasdaq under the symbol SUMO. Sumo Logic filed confidentially on November 22, 2019. Morgan Stanley, J.P. Morgan, RBC Capital Markets and Jefferies are the joint bookrunners on the deal. No pricing terms were disclosed.
The article Cloud management software provider Sumo Logic files for a $100 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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