SailPoint, which provides identity governance software to enterprises, filed on Friday with the SEC for an initial public offering that we estimate could raise up to $1.0 billion.
SailPoint delivers solutions to enable comprehensive identity security for the enterprise, serving customers that include many of the world’s largest and most complex organizations, including large enterprises across all major verticals and governments. The company offers a range of solutions to meet the varied needs of its customers across multiple deployment options, including Identity Security Cloud, its SaaS-based cloud solution built on its unified platform Atlas, and IdentityIQ, its customer-hosted identity security solution.
The Austin, TX-based company was founded in 2005 and booked $824 million in revenue for the 12 months ended October 31, 2024. It plans to list on the Nasdaq under the symbol SAIL. SailPoint filed confidentially on September 12, 2024. Morgan Stanley and Goldman Sachs are the joint bookrunners on the deal. No pricing terms were disclosed.