Wednesday, March 14, 2018

Zscaler, Backed by TPG and Dell, Nears IPO

Cloud security appliance developer Zscaler, which is backed by both Fort Worth-based TPG (via TPG Growth), as well as Dell Technologies, is nearing an IPO. The company said in a revised S-1 filing with the SEC, that it has raised its estimated IPO pricing range. The filing indicates that Zscaler now hopes to sell 12,000,000 shares of its common stock at between $13.00 and $15.00 a share. The pricing range had been set earlier to between $10.00 and $12.00 per share. Zscaler says it plans to trade on the Nasdaq Global Market as ZS. Zscaler's biggest shareholder is TPG, but it also has received funding from such companies as EMC Ventures, Dell Technologies Capital, Lightspeed Venture Partners and CapitalG. Zscaler is based in San Jose, California.