US-based enterprise data software provider MapR Technologies has hired investment bank Goldman Sachs to lead an initial public offering that would give corporates Alphabet and Qualcomm exits, Axios reported yesterday.
MapR, which has raised approximately $194m in total equity funding, would expect to raise between $150m and $200m in the offering, according to Axios.
Founded in 2009, MapR has developed a converged data management platform that enables enterprises to match real-time data analytics with operational applications.
The company’s last funding consisted of a $50m round in August 2016 led by Future Fund that included Alphabet’s growth equity unit, CapitalG, and Qualcomm Ventures, the corporate venturing arm of mobile semiconductor producer Qualcomm.
The round, reportedly closed at a $500m post-money valuation, also featured venture capital firms Lightspeed Venture Partners, Mayfield Fund, New Enterprise Associates (NEA) and Redpoint Ventures.
CapitalG, then known as Google Capital, has already led the $80m equity portion of a $110m round in 2014 that included Qualcomm Ventures, Lightspeed, Mayfield, NEA and Redpoint, and which was raised alongside a $30m debt facility led by Silicon Valley Bank.
Another enterprise data software provider, Cloudera, has reportedly filed for an IPO that would also give an exit to Alphabet, an investor in the company through its GV unit, and which would value it at just over $4bn.