Rapid7’s initial public offering (IPO) earnt the company $110m (£70m) , some $30m more than it had planned to take when it filed to go public last month.
Shares for the security vendor, which has yet to factor offering expenses into its takings, increased in value from the initial asking price of $16 to $25 at market close on the first day on July 17, and fell in value to $23.95 on July 22 as the IPO finished.
Further public offerings from the cybersecurity industry, which is booming after a slew of mega beaches, are thought likely to follow Rapid7’s entry onto the Nasdaq, a New York stock exchange that has earnt a reputation for fielding technology firms.
Earlier this year Veracode, another security firm from near Boston, was reported to have filed privately with the US Securities and Exchange Commission, though this has not been confirmed.
LogRhythm and Mimecast are also said to be considering public offerings, according to anonymous sources quoted by Reuters.
Rapid7’s offering comes after a $30m funding round last December, with the company having collected around $93m worth of private money before making the decision to join public markets.
Data from the research firm PrivCo revealed that private funding for cybersecurity had topped $1bn for the first time in the first quarter of 2015, the same amount that was raised throughout the entirety of 2011.
