Cybersecurity technology company Crowdstrike filed to start trading public on Tuesday, along with the number of valuable technology companies joining the public markets.
Crowdstrike reported a full-year net loss of $140 million through January 31, as opposed to the revenue that rocketed to $249.8 million, as reported by the company. A great deal of the company’s sales originates from subscriptions sold to over 2,500 companies.
California-based company’s cloud-based technology is very effective because it detects breaches before they occur by tracking suspicious activities on desktops, server computers, and other devices. Once the breach is spotted, it gets analyzed in the cloud providing the company with more data to investigate the rising number of threats.
Crowdstrike was valued at $3 billion in June 2018. The stock will begin trading on the Nasdaq under the ticker symbol “CRWD.” The company expects to raise around $100 million in its IPO, though that’s just a placeholder.