Endpoint

7/26/2018
01:15 PM
Connect Directly
Twitter
LinkedIn
Google+
RSS
E-Mail
50%
50%

Tenable Prices IPO, Raises $250 Million

The past year has been one of significant growth for the cybersecurity firm, which is trading under the NASDAQ symbol TENB.

Tenable Holdings today announced the initial public offering (IPO) terms for Tenable Network Security, which has raised about $250 million and is pricing 10.9 million shares at $23 per share.

The company jumped 40% in its first day on the market, with shares opening at $33 and boosting Tenable's market value past $3 billion. The stock price was $31.29 per share at the time of publishing.

Tenable, based in Columbia, Md., was founded in 2002 to help companies detect security threats. Since building vulnerability assessment tool Nessus 10 years ago, the company has built and released Tenable.io, a "Cyber Exposure" platform designed to give security teams visibility into activity across their attack surface of endpoints, cloud, and IoT devices. The company is led by chairman and CEO Amit Yoran, former president of RSA and founding director of US-CERT.

In the 16 years since its founding, Tenable has grown to amass more than 24,000 customers in 160 countries. Clients include 53% of the Fortune 500 and 29% of the Global 2000, in addition to nine of the 10 largest US financial institutions, the company reports.

The past year marked a significant year of growth for Tenable, which ended 2017 with record billings exceeding $250 million, marking over 45% growth for the fiscal year. This also signified the seventh consecutive quarter of more than 40% year-over-year billings growth for the firm.

Toward the end of last year, the security firm teamed with Siemens on managed security services for critical infrastructure networks. The ICS/SCADA vendor announced plans to incorporate Tenable's vulnerability detection and management system into a new managed security service for critical infrastructure providers.

Hints of an IPO first appeared late last month, when Tenable filed a registration statement on Form S-1 with the US Securities and Exchange Commission. At the time, it announced shares would be traded under the NASDAQ symbol TENB, the symbol it continues to use today.

Tenable is one of several cybersecurity firms that have announced, or are rumored to announce, IPOs this year. Endpoint security company Carbon Black went public in early April, with plans to raise $100 million. Cloud security software provider Zscaler, the first major tech IPO of 2018, priced its stock in March at $16 per share.

Related Content:

 

 

 

Black Hat USA returns to Las Vegas with hands-on technical Trainings, cutting-edge Briefings, Arsenal open-source tool demonstrations, top-tier security solutions and service providers in the Business Hall. Click for information on the conference and to register.

Kelly Sheridan is the Staff Editor at Dark Reading, where she focuses on cybersecurity news and analysis. She is a business technology journalist who previously reported for InformationWeek, where she covered Microsoft, and Insurance & Technology, where she covered financial ... View Full Bio

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Drecandlere
50%
50%
Drecandlere,
User Rank: Apprentice
8/7/2018 | 9:55:04 AM
Good article! Thanks!
Good article! Thanks!
Higher Education: 15 Books to Help Cybersecurity Pros Be Better
Curtis Franklin Jr., Senior Editor at Dark Reading,  12/12/2018
Worst Password Blunders of 2018 Hit Organizations East and West
Curtis Franklin Jr., Senior Editor at Dark Reading,  12/12/2018
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Current Issue
10 Best Practices That Could Reshape Your IT Security Department
This Dark Reading Tech Digest, explores ten best practices that could reshape IT security departments.
Flash Poll
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2018-20161
PUBLISHED: 2018-12-15
A design flaw in the BlinkForHome (aka Blink For Home) Sync Module 2.10.4 and earlier allows attackers to disable cameras via Wi-Fi, because incident clips (triggered by the motion sensor) are not saved if the attacker's traffic (such as Dot11Deauth) successfully disconnects the Sync Module from the...
CVE-2018-20159
PUBLISHED: 2018-12-15
i-doit open 1.11.2 allows Remote Code Execution because ZIP archives are mishandled. It has an upload feature that allows an authenticated user with the administrator role to upload arbitrary files to the main website directory. Exploitation involves uploading a ".php" file within a "...
CVE-2018-20157
PUBLISHED: 2018-12-15
The data import functionality in OpenRefine through 3.1 allows an XML External Entity (XXE) attack through a crafted (zip) file, allowing attackers to read arbitrary files.
CVE-2018-20154
PUBLISHED: 2018-12-14
The WP Maintenance Mode plugin before 2.0.7 for WordPress allows remote authenticated users to discover all subscriber e-mail addresses.
CVE-2018-20155
PUBLISHED: 2018-12-14
The WP Maintenance Mode plugin before 2.0.7 for WordPress allows remote authenticated subscriber users to bypass intended access restrictions on changes to plugin settings.