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CrowdStrike Stock Crushes IPO Expectations and Rises ~70.0%

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Jun. 13 2019, Updated 1:27 p.m. ET

CrowdStrike stock spirals upwards after IPO

Cybersecurity company CrowdStrike (CRWD) went public on June 12. CrowdStrike issued 18 million shares for $34 per share and raised $612 million in the IPO. CrowdStrike had also raised its price range last week from between $19 to $23 to between $28 and $30.

CrowdStrike stock opened at $63.50 and reached a high of $67.0. The stock closed at $58.0, which was almost 71.0% higher than the IPO price. CrowdStrike is now valued at $11 billion and almost 4x since its last valuation of $3 billion last June. CrowdStrike had then raised $200 million (Series E round) at a $3 billion valuation.

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CrowdStrike had raised $481 million prior to IPO

CrowdStrike is a cybersecurity company that focuses on delivering endpoint protection solutions. CrowdStrike delivers endpoint protection services as an integrated cloud solution.

Prior to the IPO, CRWD had raised $481 million, taking its total capital raised to $1.1 billion. CrowdStrike was backed by leading private equity funds including Accel, General Atlantic, and IVP (Institutional Venture Partners).

The California-based company was founded in 2011 and had acquired Payload Security, which is an automated malware enterprise system, back in November 2017 for an undisclosed amount.

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