CyberArk Exceeds Fundraising Expectations In IPO, Raising $85.8M

September 29, 2014 | The Israeli cyber security company CyberArk exceeded expectations in its recent NASDAQ IPO, raising $85.8 million at a company valuation of $473 million. The company sold 5.36 million shares at $16 per share, above the estimated range of $13-$15. On Thursday, the first day of trading, the share price doubled to $35, only to fall back to $29.80, reaching a market cap of $881 million. CyberArk is the third Israeli company to see its share price double on its first full day of trading, after Mobileye on the NYSE and ReWalk Robotics on NASDAQ. CyberArk was founded by CEO Uri Mokady and specializes in IT security solutions to protect organizations from cyber attacks.