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The $9 billion-plus cybersecurity startup Tanium has hired an unnamed chief financial officer who is doing a “readiness assessment” of whether the 14-year-old company can begin the process of going public, CEO Orion Hindawi told Insider on Thursday.
Tanium, founded in 2007, has raised hundreds of millions in funding in the past year. It just announced a $150 million Series H from Fabrica Ventures and Ontario Teachers’ Pension Plan in February. And last year, it announced that it raised $150 million in funding in October and a “strategic investment” from Salesforce Ventures in June. In total, it has raised $982.79 million, with a valuation of over $9 billion.
“If we do a great job as a company, we can go public in a reasonably short amount of time,” Hindawi said. “I think this IPO planning process, the whole process of doing a readiness assessment, is going to shine a light on how big the gaps are and what we need to do.”
Tanium has intermittently discussed an IPO for years, with Hindawi voicing different attitudes towards the process at different times. Hindawi previously told Insider that the company was on track to book $600 million in revenue over the current fiscal year.
Now, Hindawi says, Tanium is inching closer to readiness — though he won’t commit to a specific timeframe.
“We’ve had a continuous process and we are getting more serious about this process over time,” he said. When asked if Tanium might go public within the next 12 months, Hindawi replied, “I think it’s possible, but I think that it really depends on that gap analysis being performed.”
Hindawi confirmed the company has hired a new CFO, but would not name who it is. He said the news would be announced when the CFO starts work with the company, and that IPO assessment was a key qualification for the job. “We believe finding someone who has the ability to do that process well was a real consideration in the process,” Hindawi said.
“We’re doing an internal review of each department in the company with our new CFO running that process, who has a lot of experience with this process, to be able to understand what we need to improve,” he added.
This new CFO, whoever it is, is not Tanium’s first. Its most recent CFO, Jim Jackson, left in November after working at Tanium for 10 months. Before that, Eric Brown, who …read more
Source:: Business Insider