SailPoint, backed by Thoma Bravo, plans to raise $1.05 billion in an upcoming IPO, potentially reaching a market value of $11.5 billion. This move reflects the growing importance of identity security as SailPoint aims to compete with giants like Microsoft and Okta. Since its foundation in 2005, the company has grown significantly, servicing half of the Fortune 500. Notably, the IPO follows several strategic moves by Thoma Bravo, which acquired SailPoint in 2014 and is currently pursuing substantial returns on its investment.
SailPoint plans to raise $1.05 billion in an upcoming IPO, valuing the company at $11.5 billion, signaling strong investor interest in identity security.
After multiple attempts at going public, SailPoint's IPO reflects a broader trend of private equity firms like Thoma Bravo successfully realizing value in tech investments.
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