SoftBank-Backed Cohesity Is Said to Work with Banks on IPO

SoftBank-Backed Cohesity Is Said to Work with Banks on IPO

Cohesity Inc is a software company for data management supported by the leading Softbank Vision Fund. Cohesity is currently working with Mogan Stanley and JPMorgan Chase and Co on the IPO for 2022.

Cohesity Inc is most likely to be valued at $5 bn to $10 bn in an IPO listing, according to certain people associated with the firms, who requested to remain anonymous since this is private information of the company. Cohesity is most likely to submit a draft registration for IPO to the United States Securities and Exchange Commission this week.

Softbank-supported Cohesity IPO plans, including their timing, are not yet final and hence are subject to changes.

A Cohesity spokesperson announced that the firm does not comment on speculation or rumor, and so, the representatives of Morgan Stanley and JPMorgan Chase refused to comment.

In March, the company announced that the company recorded an investment of $3.7 bn as opposed to $2.5 bn recorded last year. Steadfast Capital Ventures led the tender offers for employee shares, along with the participation of current investors, including DFJ Growth, SoftBank Vision Fund, Wing Venture Capital, and Foundation Capital, as stated by the CEO and founder of Cohesity, Mohit Aron. He added that a Cohesity IPO is not very far off.

Clients of Cohesity include NASA and Cisco Systems, which provide different services like data management. The company, based in San Jose, California,  says that the products have the potential to simplify recovery and backup processes as well as create a strong defensive mechanism against cybersecurity and other threats.

Cohesity Inc. has announced multiple enhancements and improvements to their services this year, such as making it easier to scan for threats and providing additional services like disaster recovery.

About Cohesity Inc.

Cohesity Inc makes it easier for clients and organizations to manage, back up, and secure their data in either edge, cloud, or data center. Clients can handle their data infrastructure directly with Cohesity or have them managed by the company through their Data Management Services. Cohesity Inc. solves huge data fragmentations, and the company has been featured in Forbes Cloud 100 in 2020 as well as the Coolest Cloud Companies of CRN 2020.

Jay Richardson

Jay Richardson has been a news writer for last five years. He is also an avid trader. Before joining FinanceStead, he was freelance news editor. Jay started in journalism by editing the foremost magazines and then at FinanceStead, he contributes daily news articles on finance industry and helps to others in curating stories.

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