IPO pipeline: Two North Texas tech companies positioned to go public in 2015
December 17, 2014
by Danielle Abril | Staff Writer
Dallas Business Journal
The Dallas Business Journal
Twenty two private technology companies based in Texas are positioned to go public in 2015 including two in the Dallas-Fort Worth region, according to a recent report.
New-York based CB Insights' 2015 Tech IPO Pipeline Report includes Frisco-based Genband and Richardson-based FireHost in this year's list.
CB Insights bases the list on companies that have valuations, real or rumored, of greater than $100 million and are demonstrating significant momentum based on its Mosaic ratings system, which uses an algorithm to determine the health of a company.
Genband, which provides software solutions for networks, has been growing its company for the past several years. The company, led by CEO David Walsh, most recently partnered with Nokia Networks to provide consumers with cost-effective voice roaming and texting capabilities via Voice over Wi-Fi. Earlier this year, it acquired uReach Technologies, a New Jersey based company that offers a carrier-class portfolio of voice, video and unified messaging solutions and services.
FireHost, which the Metroplex Technology Business Council recognized as one of the fastest growing mid-size technology companies last year, about 190 employees helping the company to provide secure cloud computing hosting services. Earlier this year, former CEO Chris Drake handed off the top role to longtime security expert and cloud veteran Jim Lewandowski. Drake then assumed the role of chief technology officer.
On the national landscape, 588 companies that have raised $64.27 billion collectively are in the IPO pipeline, according to the CB Insights report. In 2014, CB Insights reported that 590 tech companies were in the pipeline. Sixty-seven companies exited and 192 collectively raised $12.9 billion in financing. Last year also revealed that financing rounds of more than $100 million more than doubled from 2013.
To read the story on The Dallas Business Journal
website, click here