Summary
Tenable Holdings aims to raise $166 million from the sale of its common stock in an IPO.
The firm provides cyber security risk assessment and compliance software to enterprises and government agencies.
TENB is growing quickly in a profitable sector but faces the potential challenge of new market entrants.
This idea was discussed in more depth with members of my private investing community, IPO Edge.
Quick Take
Tenable (TENB) intends to sell shares of its common stock for gross proceeds of $166 million from a U.S. IPO, according to an S-1/A registration statement.
The firm provides cybersecurity solutions for a category of cybersecurity known as Cyber Exposure. Cyber Exposure is focused on managing and measuring cybersecurity risk in the digital era.
TENB is growing topline revenue sharply, has delivered impressive financial results but the lucrative business it operates in may attract more intense competition.
