Six IT security firms gearing for IPOs
August 31, 2012
IT security is emerging as one of the Boston area’s commercial technology specialties, with six fast-growing security software firms in the region saying they are eyeing an initial public offering of stock in the next several years.
Three of the companies have shared their IPO intentions with the Business Journal in the past month — Cyber-Ark Software, Bit9 and CORE Security Technologies — joining Veracode, Rapid7 and Verdasys, which had previously disclosed plans for an eventual IPO.
The six companies together have raised $183 million in equity investment since the start of 2011. The funding is meant to fuel growth at the firms, which are all seeking to protect enterprises against increasingly sophisticated cyber threats.