Rapid7, Inc. (RPD) Files $80M IPO

Rapid7, Inc., (Nasdaq: RPD) filed a registration with the U.S. SEC for an IPO of its Common Stock. The proposed maxmimum offering price is $80 million. The company plans to list on the Nasdaq Global Market under the ticker, RPD.

Underwriters are Morgan Stanley & Co. LLC, Barclays Capital Inc., Pacific Crest Securities, a division of KeyBanc Capital Markets Inc., William Blair & Company, L.L.C., Raymond James & Associates, Inc., and Cowen and Company, LLC.

Statement on performance: We have experienced strong revenue growth with revenue increasing from $31.0 million in 2011 to $76.9 million in 2014, representing a 35 percent compound annual growth rate. We have strong visibility to our revenue as 53 percent of the revenue recognized in 2014 was recorded on our balance sheet as deferred revenue as of December 31, 2013 and 85 percent of the revenue recognized in the first quarter of 2015 was recorded on our balance sheet as deferred revenue as of December 31, 2014. We incurred a net loss of $32.6 million in 2014 as we continued to invest for growth given our large market opportunity.

Rapid7 is a leading provider of security data and analytics solutions that enable organizations to implement an active, analytics-driven approach to cyber security.

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