Varonis Systems, Monday said it has filed for an Initial Public Offering of $100 million with the Securities Exchange Commission. The company will not receive any proceeds from the sale of shares by the selling stockholders. Varonis plans to list the common stock on The Nasdaq Global Select Market under the symbol "VRNS."
For the nine-month period ended September 30, the company had reported a loss of $8.9 million or $2.32 per share, on revenues of $48.9 million.
Varonis Systems was founded by networking and storage experts Yaki Faitelson and Ohad Korkus. Varonis is a solution provider of comprehensive, actionable data governance solutions for unstructured and semi-structured data with over 4500 installations spanning leading firms in financial services, government, healthcare, energy, media, education, manufacturing and technology worldwide.
by RTT Staff Writer
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