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Upcoming Tech IPOs

Upcoming Tech IPOs
March 30, 2021

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Among the numerous companies that go public in a given year, tech companies are often the ones with the most press coverage due to their great growth potential, often accompanied by high valuations. The five largest companies in the S&P 500 are tech giants that grew from humble beginnings, which is why any tech company that lists publicly has the potential to become the next Google or Facebook.

Upcoming tech IPOs to watch:

🏠 Compass: Scheduled to list on Thursday, April 1, Compass has been driven by the real estate boom, buoyed by trends such as rock-bottom interest rates and social changes triggered by the pandemic as urban dwellers hope to lock down investments or move to suburban areas. In 2020, revenues rose 56% year-over-year to $3.72BN.

🤖 UiPath: Focused on robotic process automation (RPA), UiPath filed for IPO in November and intends to raise $1BN, a sizable target for the company. The company’s successful pivot to robotics and automation was a game-changing move for its growth and has contributed to its 165% 3-year growth.

📒 Coursera is an e-learning platform that partners with leading universities and enterprises to offer free and paid courses. Demand for online learning platforms has skyrocketed during the pandemic, leading to Coursera's targeted $4BN valuation post-IPO, almost double its current valuation. The listing data has not been decided.

🛒 Instacart, the grocery delivery startup that was the biggest winner of 2020 has been rumored to be IPO'ing for some time. It raised additional funding from investors a few weeks ago, doubling its valuation year over year, and hired a new CFO, paving the way to IPO. There are rumors, however, that the company is avoiding the volatility of an IPO process and opting for a direct listing.

💳 Stripe has been rumored to be IPO'ing for some time, but with its latest giant round of funding making it the most highly-valued startup in America, the time is now for the fintech startup that helps the Internet integrate electronic payments. 

☁️ Databricks provides a unified analytics platform that prepares data from experimentation to deployment in machine learning applications. The company has a 21% year-over-year growth rate and recently raised $1BN to push its valuation up by 5x from the last funding round. It is one of the four top-growing cloud startups. The company's IPO is not confirmed, but with UiPath paving the way, it is likely we will see an announcement soon.

🚗 Rivian is one of the few EV makers who hasn’t jumped at a SPAC acquisition like many of its competitors. Backed by Amazon to deliver 100,000 vans by 2030, the vehicle manufacturer of trucks and SUVs is rumored to be eyeing a traditional IPO.

📈 Robinhood, the trading application, filed for IPO last week on Tuesday and could list as early as Q2. The company had been under hot water at the beginning of the year when a Reddit-inspired trading frenzy helped the app add 3 million users but also forced it to restrict the trading of highly-shorted stocks targeted by memes.

On an end note: 
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Since last week, PrivCo has added:
404 Companies | 294 Funding Activities | 95 M&A Deals

Funding & Deal Highlights:

Staffbase raises $145MM led by General Atlantic
Human Resources Software & Internet Services • Equity • New York, NY

Cityblock Health raises $192MM led by Tiger Global Management
Health Care Providers • Round C • Brooklyn, NY

MyCarrier raises $8MM
Logistics Software & Internet Services • Round A • Scottsdale, AZ

Asher Biotherapeutics raises $55MM led by Third Rock Ventures
Biotechnology • Round A • San Francisco, CA

Emalex Biosciences raises $35MM led by Paragon Biosciences
Biotechnology • Round C • Chicago, IL

Lattice raises $60MM led by Tiger Global Management
Human Resources Software & Internet Services • Round E • San Francisco, CA

Counterpart raises $10MM led by Valor Equity Partners
Insurtech Software & Internet Services • Round A • Walnut, CA

AppliedVR raises $29MM co-led by Magnetic Ventures and Sway Ventures
VR Technology Services • Round A • Los Angeles, CA

AKASA raises $60MM led by Bond
Revenue Cycle Management Software & Internet Services • Round B • South San Francisco, CA

Augmenta raises $8MM led Cnh Industrial Oesterreich 
Agtech Software & Internet Services • Round A • Dallas, TX

Kubecost raises $5.5MM led by First Round Capital
Big Data Software & Internet Services • Seed • San Francisco, CA

Stuart Therapeutics raises $11MM led by InFocus Capital Partners
Biotechnology • Round A • Stuart, FL

Ketch Kloud raises $23MM co-led by aCrew Capital and Charles River Ventures
Privacy Software & Internet Services • Round A • San Francisco, CA

The Holberton School raises $20MM led by Redpoint e.ventures Brazil
Education Services • Round B • San Francisco, CA

Pandemic Insights raises $5MM led by Convergence Ventures
AI Software & Internet Services • Round A • Austin, TX

Vista Equity Partners makes $1.4BN majority investment in TripleLift
Software & Internet Services • Acquisition • New York, NY

News Corporation acquires Business Daily for $275MM
Publishing • Acquisition • Los Angeles, CA

Instem acquires D-Wise
Health Care Software & Internet Services • Acquisition • Morrisville, NC

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