A little known cloud security company just raised $192 million in the first big tech IPO of 2018 (ZS)

pulse

March 17, 2018 12:57 PM

Zscaler is trading up 72% in its early hours as a public company

Zscaler, an enterprise cloud security company, took its shares public on Friday.
The company set its share price at $16, and shares shot up 75% to around $28 on the first day of trading.
Zscaler is the first of the many tech IPOs expected to come in 2018.

The first big tech IPO of the year is off to a good start.

Zscaler, a San Jose-based cloud security company, is up more than 75% Friday in its first hours as a publicly traded company.

The company, whichriced its shares at $16 in order to raise a total of

Founded by a tech industry veteran

"For decades, enterprises had been building corporate networks to connect users to applications in the data center, and these networks were secured with a multitude of security appliances. The world has changed and network security is becoming irrelevant," Chaudhry wrote.

"We knew that retrofitted security technologies wouldn’t work in this new world, so we set out to redefine security. We started with a clean slate—security born in the cloud for the cloud, deep and wide in functionality," he said.

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