Cybersecurity Firm SailPoint Raises $1.38 Billion in IPO, Surpassing A $12 Billion Valuation

The American cybersecurity firm SailPoint raised $1.38 billion during its initial public offering (IPO), selling 60 million shares at $23 this Thursday. The tech company’s valuation is now above $12 billion.

According to Reuters, SailPoint is now trading on the Nasdaq stock exchange—under the symbol “SAIL”— making a comeback after two years as a private company. The private equity firm Thoma Bravo and a group of stakeholders were part of the successful market return, increasing the prices of the shares and surpassing the estimations—50 million shares priced at $21 to $23.

“SailPoint intends to use its net proceeds from this offering to repay a portion of its term loan, settle outstanding equity awards and equity appreciation rights, pay outstanding fees under the advisory services agreement with Thoma Bravo, and for general corporate purposes,” states the company’s press release. “SailPoint will not receive any proceeds from the sale of the shares offered by the selling stockholders.”

The cybersecurity company—founded in 2005—has gained relevance as more AI cybersecurity threats and new cyberattacks emerge. Just a few days ago, the delivery company Grubhub announced a data breach, and about 1 million logs including chat history were exposed in DeepSeek’s recent data breach.

Even though the market has been unpredictable—as investors are waiting for President Donald Trump’s administration to reach a stable direction—strong businesses still thrive.

“Having the divergence of performance indicates investors are discerning, but that solid companies can get done and do well, which is good,” said Nicholas Smith, senior research analyst at Renaissance Capital, a provider of pre-IPO research and IPO-focused ETFs.

According to its website, SailPoint has over 2,500 employees and operates in 37 countries, offering multiple cybersecurity solutions to companies in multiple industries. Among its services, the cybersecurity firm highlights the mitigation of risks, protection through AI models, and the modernization of systems.