Security company Tenable today filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission.
The company hasn’t yet set a number of shares to be offered or the price range. Tenable plans to list its common stock on the Nasdaq Global Market under the ticker symbol “TENB.”
Earlier this year, Tenable launched Lumin, a tool that allows companies to measure and quantify cyber risk. Lumin is an application within Tenable.io, the company’s cyber exposure platform. It works with Tenable’s other products, like its container and web application security offerings.
The application analyzes vulnerability data, business-critical assets, and threat context. It then quantifies an organization’s cyber risk and benchmarks it against its peers.
“Cyber exposure enables businesses to undergo digital transformation in a secure way by helping them answer three questions: How am I exposed? What can I do to reduce my exposure as quickly as possible? And how do I compare to my peers?” explained Tenable CTO Renaud Deraison, in an earlier interview with SDxCentral. “This is also a very difficult thing to do because security has a lot of dark magic, and the ability to compare other companies in my vertical is something we needed to add.”
Today’s announcement comes three months after the security vendor hired investment bank Morgan Stanley to lead its IPO.
At the time, anonymous sources told Reuters that an IPO could value Tenable between $1.5 billion and $2 billion.
Hot Year for Security IPOs
The move also follows two other security vendors — Zscaler and Carbon Black — that went public this spring.
In March, network security company Zscaler’s IPO raised $192 million with shares jumping 75 percent on its first day of trading.