IPOs

Developer tool maker JFrog files for a $100 million IPO

JFrog, which sells software tools that streamline app development, filed on Monday with the SEC to raise up to $100 million in an initial public offering.

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JFrog's DevOps Platform allows organizations to continuously deliver software updates across any system. As of June 30, 2020, the company had over 5,800 customers, including all of the top 10 technology organizations, 8 of the top 10 financial services organizations, 9 of the top 10 retail organizations, and 8 of the top 10 healthcare organizations in the Fortune 500.

The Netanya, Israel-based company was founded in 2008 and booked $128 million in sales for the 12 months ended June 30, 2020. It plans to list on the Nasdaq under the symbol FROG. JFrog filed confidentially on February 7, 2020. Morgan Stanley, J.P. Morgan and BofA Securities are the joint bookrunners on the deal. No pricing terms were disclosed.

The article Developer tool maker JFrog 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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