Report: 22 Texas technology companies could try IPOs next year

Dec 16, 2014
Austin Business Journal

Twenty-two Texas companies — including two in Austin — are among the list of U.S. technology companies positioned for initial public offerings next year


New York-based research firm CB Insights reports that 588 venture capital- and private equity-backed tech companies are in the 2015 IPO pipeline. Although it doesn't provide the names of all 22 Texas companies, the list includes two Austin-based software makers: Pivot3 Inc. and Volusion Inc


Pivot3, which was founded in 2003, develops server and storage virtualization software and hardware. In October, the company that also operates a development center in Houston reported completing a $10 million Series E round of financing


Volusion, founded in 1999, develops shopping cart software for online stores. The company, which employed 450 workers earlier this year, completed last January a $35 million debt financing to expand its business


Two other Austin software companies, Upland Software Inc. and Q2 Holdings Inc. completed IPOs this year


As well, officials with two other local technology sector companies, BigCommerce and RealMassive, have told Austin Business Journal recently that they are also considering an IPO at some point


The tech companies in CB Insights' IPO pipeline reportedly have valuations of greater than $100 million and are demonstrating significant momentum in their growth, officials said



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