The Petah Tikva based cyber security company has a market cap of $881 million.
Israeli cyber security company CyberArk Software Ltd. (Nasdaq:CYBR) raised $85.8 million last Wednesday on Nasdaq at a company value of $473 million. The company sold 5.36 million shares at $16 per share, above the planned range of $13-15.
On its first day of trading on Thursday the share price more than doubled to nearly $35 per share, falling back 5% on Friday to $29.80 per share, giving a market cap of $881 million. This is the third Israeli company in recent weeks to see its share price double on its first day of trading following Mobileye (NYSE: MBLY) and ReWalk Robotics Ltd. (Nasdaq:RWLK).
Petah Tikva based CyberArk Software has developed a new layer of IT security solutions that protects organizations from cyber attacks that have made their way inside the network perimeter. CyberArk was founded 15 years ago by CEO Udi Mokady. The company has raised $70 million to date and its largest investor is Jerusalem Venture Partners (JVP).
Published by Globes [online], Israel business news - www.globes-online.com - on September 28, 2014
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Udi Mokady