Mulesoft to go public today
Main page News, IPO

Mulesoft (NYSE: MULE) will make its debut on the New York Stock Exchange today in the the first public offering by a major enterprise software company this year.

With an IPO price of $17 the San Francisco-based software firm will reap $221 million in new funding through the issue of 13 million shares of common stock.

It gives the company a value of at around $2.9 billion, almost double the $1.5 billion valuation it had at its last investment round as a private company.

Mulesoft provides a cloud platform that allows users to connect applications, data and devices.

The firm says it aims "to help organizations change and innovate faster by making it easy to connect the world's applications, data, and devices."

Last year the company reported total revenue of $187.7 million, up 70 percent from $110.3 million in 2015.

However, it posted a net loss of $49.6 million, an improvement on the $64 million loss the previous year.

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