CyberArk, The Petah Tikva based net security provider, wants to publicly issue 25% of its shares, thus raising $75 million. The company has posted remarkable growth every year in the last few years.
Cyber Ark focuses on monitoring and neutralizing privileged accounts in organization computer systems. These accounts allow unauthorized parties access to sensitive information, files and processes. Since they are in fact part of the default of operating systems, they have been used extensively by hackers to commit cyber crimes in recent years. This means CyberArk is a player in one of the most popular fields of technology these days.
The company filed a request with the US Securities and Exchange Commission, the SEC, in hopes to raise $75 million in an initial public issue. The company will issue 25% of its shares. According to the filing Goldman Sachs holds 24% of the company’s shares, while Israeli venture capital fund JVP holds 46%, and stands to earn most from the issue.
CyberArk was founded in 1999, and in the 12 months that ended on March 31st, 2014 its sales total came to $71 million. In recent years the company posted a growth rate in the double digits. Its net profit in 2013 came to $6.6 million. CyberArk has 1,500 clients and in 2011 it raised $40 million in a Goldman Sachs-led stock issue.
The two companies jointly leading the issue are JP Morgan Securities and Deutsche Bank Securities.