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MuleSoft prices IPO above expected range at $17 per share

Enterprise software company MuleSoft will go public tomorrow and just priced their IPO at $17 – slightly above the proposed $14-16 range.

The company will start trading on the New York Stock Exchange tomorrow, under the symbol “MULE”. Founded in 2006, MuleSoft is an integration platform that helps help businesses use APIs to connect different types of software and services.

The offering will pocket the company about $221M in new funding, as MuleSoft is issuing 13,000,000 shares of common stock as part of the offering. This gives the company a total valuation of around $2.14B, which is well above the valuation of $1.5B it last raised at privately.

If the last few weeks are any indicator of recent IPO success, MuleSoft should do pretty well tomorrow.

Snapchat parent company Snap Inc. went public last week in a large $3.9B offering and also priced at $17, above its expected range. SNAP shot up 44% in its first day of trading, and while the share price has traded lower in recent days, it’s still trading above its IPO price. And earlier today luxury goods maker Canada Goose went public with a $225M raise, and ended the day up ~25% from its IPO price of $12 per share (which was also above the expected range).

MuleSoft’s IPO is the first public offering by a major enterprise software company this year, and if it goes well should signal more enterprise software companies going public soon – especially after the relative success of consumer technology company Snap Inc. last week.

Featured Image: © Philippe LEJEANVRE/Getty Images

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