US-based Marin Software, a company which provides a digital ad management platform, backed by software provider SAP’s corporate venturing unit, has raised $105m in its stock market flotation.
Marin priced 7.5 million shares are $14 each. Investment banks Goldman Sachs and Deutsche Bank Securities served as co-lead underwriters.
Marin had previously raised $80m in private funding, including $30m in February last year in a series F round co-led by Temasek, the investment holding company backed by the Singapore government that owns 10.7% of Marin.
Also participating in the series F round were SAP Ventures and venture capital firms Benchmark Capital, which owns 16.4%; Crosslink Ventures (5.8%); and DAG Ventures (16.1%); and private equity firm Triangle Peak Partners. Previous investors include Focus Ventures (6.5%) and Amicus Capital.