MuleSoft, the leading app integration platform, has become the latest technology innovation firm to file an IPO. The event makes it the first API management and integration software company to submit an IPO filing. According to an insider source, MuleSoft is expected to raise $100 million in the IPO, aiming to go public on the NYSE under the symbol – MULE. The announcement comes barely two weeks after Snap filed its IPO documents.
Counted among the agilest “Unicorn” companies in the app industry, MuleSoft helps businesses like Netflix and Spotify with their APIs to innovate faster, better customer experiences in a pacey competitive marketplace. Going by its S1 filing reports, Mulesoft could debut as an IPO as early as March 2017. The company managed to rake up annual revenue of $187.7 million in 2016, up from $57.6 million and $110.3 million for 2014 and 2015 respectively. During the same time, Mulesoft managed to cut its losses to $49.6 million in 2016 from $65.4 million in 2015.
Founded in 2006, MuleSoft Inc. has so far raised $259 million in seven rounds of funding, including the last Series G funding round of $128 million in May 2015. After a dry spell in IPO for tech firms in the US, the industry is buzzing positively in 2017, especially with companies like Snap Inc., Dropbox, Cloudera, Yext, and Okta also confirming their IPO plans for the year. Earlier, IPO candidate AppDynamics was acquired by Cisco for $3.75 billion in the last minute action, prompting investors to walk a cautious line in IPO market.
If MuleSoft succeeds in its IPO plans, it would become the first technology innovation firm in the Bay Area to do so. MuleSoft currently provides Anypoint PlatformTM for SOA, SaaS, and APIs, enabling companies to attain exceptional business agility across devices, premises, and cloud with an API-driven approach. Mule Runtime Engine and platform services help marketers accelerate their marketing campaigns with a fully-integrated front and back office collaboration and data sharing. A successful IPO in March will reinforce positivity among investors, identifying MarTech as the most prolific and high-return prospect in coming years.