Tigera has reached Series B funding status since its founding in 2016 and may be ready to go public via IPO. The company has a comparatively high rate of growth, at around 7%, begging the question, when will Tigera file an IPO? It’s not always in a company’s best interest to go public, but based on strong funding rounds, rollout of new products and steady revenue and growth, going public seems like the inevitable next step for the company. Grit Daily reached out to the team for comment but Tigera was unable to provide a comment on the status of an IPO.
Tigera offers cloud-native connectivity solutions that enable businesses to connect and secure their container-based applications. Their technology is used by major companies around the world, including JPMorgan Chase, Morgan Stanley, ServiceNow, Visa and Robinhood. The company recently launched Calico Cloud, which will help make kubernetes clusters more secure, and give teams increased observability. The pay-as-you-go SaaS was announced late last month.
The company’s projected annual revenue is $10.5 million, and it boasts 82 employees, though its C-suite and board are made up entirely of men. Tigera’s current president and CEO, Ratan Tipirneni has been with the company for 3 years, and created 2 SaaS companies, IPTouch and PersonalMD.com, before taking the helm of Tigera.
In 3 rounds of investment, Tigera raised $53 million via 6 investors, according to Crunchbase. Tigera’s main competitors are Cohesive Networks, Aviatrix Systems, and CloudOps, Inc., but Tipirneni has the highest CEO rating among them, according to Owler.
Before the pandemic, Tigera had dozens of face-to-face events per year, but COVID-19 forced the company to move training events online, which it did using Skytap. The move encouraged open-source customers to upgrade to the paid version so they could get virtual hands-on training.
Investment banks are seeing a lot of interest in companies that are making it easier to use Kubernetes. While SEC rules do not allow for much talk about an IPO announcement. Cloopen Group, a cloud solution provider announced its IPO in early February and took in $320 million in offering proceeds. If Tigera plays its cards right, it could also see an upsized IPO if and when it goes public.