IPOs

Cloud management software provider Sumo Logic files for a $100 million IPO

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.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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