Software company Carbon Black Inc (NASADAQ:CBLK) is one of the latest tech start-ups to go public, making its trading debut on Nasdaq Friday.
The Massachusetts-based company priced its 8 million shares Thursday at US$19 after extending its pricing range to US$17 and US$19 from a range of US$15 to US$17.
Shares jumped more than 30% to US$25.09 on its first trading day.
Its initial public offering raised about US$152mln, valuing the tech company at US$1.25bn.
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The cybersecurity company develops endpoint security software, including the Cb Predictive Security Cloud Platform.
Carbon Black has partnered with tech giant IBM (NYSE:IBM), merging Carbon Black’s endpoint security solutions with IBM’s security products.
It’s official! We’ve kicked off Friday trading, ringing the opening bell for @Nasdaq in #NYC #IPO #CBLK #infosec pic.twitter.com/l8n5BZGReP
— Carbon Black, Inc. (@CarbonBlack_Inc) May 4, 2018
The company has also collaborated with VMWare Inc (NYSE:VMW), a subsidiary of Dell Technologies Inc (NYSE:DVMT), bringing security solutions to the VMWare Workspace ONE Trust Network, a digital workplace platform.
In its regulatory filing, the company sees legacy antivirus solution providers, like McAfee, and established network security providers, like Cisco Systems (NASDAQ:CSCO), as its competition.