One of the most successful cybersecurity companies in North America has officially hit the Nasdaq.

‍What’s happening:‍

• Cybersecurity company SailPoint (NASDAQ: SAIL) has successfully raised $1.38B through an IPO and begun trading on the Nasdaq
  

By the numbers:‍

• SailPoint raised $1.32B USD directly and existing shareholders sold $60M USD of shares in the IPO
  
• The IPO valued SailPoint at roughly $12.6B USD
  

Why it matters:‍

• SailPoint is one of the most popular cybersecurity companies in North America and is currently used by many of the largest publicly traded companies in the world for identity protection and securing critical systems
  

Going deeper:‍

• Global governments have even begun to adopt SailPoint’s cybersecurity technology, including government agencies from both Australia and New Zealand
  

The intrigue:‍

• SailPoint was previously a publicly traded company, prior to being taken private in a large transaction led by private equity giant Thoma Bravo

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