Enterprise software company MuleSoft will go public tomorrow and just priced their IPO at $17 – slightly above the proposed $14-16 range.
The company will start trading on the New York Stock Exchange tomorrow, under the symbol “MULE”. Founded in 2006, MuleSoft is an integration platform that helps help businesses use APIs to connect different types of software and services.
The offering will pocket the company about $221M in new funding, as MuleSoft is issuing 13,000,000 shares of common stock as part of the offering. This gives the company a total valuation of around $2.14B, which is well above the valuation of $1.5B it last raised at privately.
If the last few weeks are any indicator of recent IPO success, MuleSoft should do pretty well tomorrow.
MuleSoft’s IPO is the first public offering by a major enterprise software company this year, and if it goes well should signal more enterprise software companies going public soon – especially after the relative success of consumer technology company Snap Inc. last week.