Cohesity files for IPO

Cohesity, the data management vendor, has filed for an IPO. According to a Bloomberg report, the target valuation for the company ranges from $5bn up to $10bn.

Cohesity today said it has submitted a confidential draft registration statement on Form S-1 with the Securities and Exchange Commission.” (SEC)

It said “the number of shares to be offered and the price range for the proposed offering have not yet been determined. The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions.”

The SEC filing will, assuming a successful review, reveal details of Cohesity’s financial performance over the past few quarters. This will make interesting reading.

Backblaze signalled its intention to go public last month, but otherwise storage-flavoured IPOs have been thin on the ground recently. We anticipate the Cohesity IPO will take place in the first half of 2022.