Sumo Logic has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of shares of its common stock. Sumo Logic has applied to list its common stock on the Nasdaq Global Select Market under the ticker symbol “SUMO."
Sumo Logic is a provider of software for continuous intelligence, helping organizations to address the data challenges and opportunities presented by digital transformation, modern applications, and cloud computing.
According to Sumo Logic, its vision is to democratize machine data, making insights from this rich source available to all. "Our Continuous Intelligence Platform gives our customers insights across a wide range of use cases. We help our customers: monitor and troubleshoot their applications and their cloud and on-premise infrastructure; manage audit and compliance requirements; rapidly detect and resolve modern security threats; and extract critical key performance indicators, or KPIs, from various types of machine data to gain visibility into customer behavior, engagement, and actions. We enable our customers to derive critical value from their data with advanced analytics based on our proprietary machine learning technology that identifies and predicts anomalies in real time."
Morgan Stanley and J.P. Morgan are acting as lead book-running managers for the offering. RBC Capital Markets and Jefferies are acting as book-running managers for the offering, and William Blair, Cowen, Piper Sandler and BTIG are acting as co-managers for the offering.
For fiscal 2018, 2019, and 2020, Sumo Logic's revenue was $67.8 million, $103.6 million, and $155.1 million, respectively, representing a year-over-year growth rate of 53% and 50%, respectively. For the 3 months ended April 30, 2019 and 2020, revenue was $32.5 million and $47.2 million, respectively, representing a period-over-period growth rate of 45%.
For more information, go to www.sumologic.com.