Cloudera made its debut on the New York Stock Exchange Friday, and its shares were trading up 20% to $18 per share at midday.

The enterprise cloud company priced 15 million shares at $15 late Thursday, but at opening, shares were already trading at $17.87, giving the company a valuation of more than $2.3 billion. The company granted the underwriters a 30-day option to purchase up to an additional 2.25 million shares of common stock.

The $15 per share price was higher than what the company anticipated. Earlier this month, when Cloudera priced its offering, it set it at $12 to $14 per share, giving the firm a market capitalization of $1.79 billion.

Cloudera filed an S1 document in early April in which it said that its revenue at the end of fiscal year 2017, which ended January 31, was $261 million, a 57% increase from $166 million in revenue that it reported during the prior fiscal year. In addition, net losses declined from $203.1 million at the end of fiscal 2016 to $187.3 million at the end of fiscal 2017.

Cloudera was founded in 2008 and helped pioneer the market for Hadoop, an open-source, distributed database system designed for interpreting large amounts of data. Cloudera’s platform uses both open source software combined with the company’s proprietary software to help companies manage and move workloads across multiple architectures.

In 2014, Intel invested about $740 million in Cloudera. In the S1 filing, Cloudera said that Intel will own about 19.4 percent of the company and may want to acquire up to 10 percent of the IPO shares, which would increase its ownership.