Sumo Logic, Inc. (SUMO) to Raise $281 Million in IPO

Sumo Logic, Inc. (SUMO) expects to raise $281 million in an initial public offering (IPO) on Thursday, September 17th, IPO Scoop reports. The company plans to issue 14,800,000 shares at a price of $17.00-$21.00 per share.

In the last year, Sumo Logic, Inc. generated $181.4 million in revenue and had a net loss of $98.9 million. The company has a market cap of $1.9 billion.

Morgan Stanley, JPMorgan, RBC Capital Markets and Jefferies acted as the underwriters for the IPO and William Blair, Cowen, Piper Sandler and BTIG were co-managers.

Sumo Logic, Inc. provided the following description of their company for its IPO: ”  Sumo Logic empowers organizations to close the intelligence gap. Sumo Logic is the pioneer of Continuous Intelligence, a new category of software, which enables organizations of all sizes to address the challenges and opportunities presented by digital transformation, modern applications, and cloud computing. Our Continuous Intelligence Platform enables organizations to automate the collection, ingestion, and analysis of application, infrastructure, security, and IoT data to derive actionable insights within seconds. Continuous intelligence leverages artificial intelligence and machine learning capabilities, and is provided as a multi-tenant cloud service that allows organizations to more rapidly deliver reliable applications and digital services, protect against modern security threats, and consistently optimize their business processes in real time. This empowers employees across all lines of business, development, IT, and security teams with the data and insights needed to address the technology and collaboration challenges required for modern business. With our Continuous Intelligence Platform, executives and employees have the intelligence they require to take prescriptive action in real time—a modern business imperative. “.

Sumo Logic, Inc. was founded in 2010 and has 710 employees. The company is located at Sumo Logic, Inc. 305 Main Street Redwood City, CA 94063 and can be reached via phone at (650) 810-8700 or on the web at http://www.sumologic.com.

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