ForeScout Technologies, a US-based cybersecurity software provider backed by semiconductor maker Intel and diversified trading firm Itochu, has filed confidentially for an initial public offering, TechCrunch reported yesterday.
Founded in 2000, ForeScout has developed a software platform called CounterAct that enables users to locate devices when they connect to their network together with servers, routers and access points, and then gathers information and monitors each connected device.
ForeScout has confidentially submitted its S-1 filing but has is still to determine when it will go public, TechCrunch reported, adding that it made $126m in revenue in the 2015 fiscal year.
The company was valued at $1bn as of a $76m round led by investment manager Wellington Management in January 2016. It has not publicly disclosed details of earlier rounds but told TechCrunch it has raised $158m in total.
Intel Capital is among ForeScout’s investors according to its portfolio page, and ForeScout CEO Michael DeCesare joined the company from Intel’s cybersecurity division, Intel Security, in 2015.
Other investors in ForeScout include Itochu, which took part in a $10m round in 2005, as well as Accel Partners, BCS Growth Fund, Meritech Capital Partners and Pitango Venture Capital.