No companies went public in the US this past week, but new IPO filings continued to pour in ahead of the September pick-up. The two software providers could fetch billion-plus valuations, Datadog (DDOG) and Ping Identity (PING).
LBO'd by Vista Equity Partners in 2016, identity access management platform Ping Identity is highly profitable with a 22% EBITDA margin, and grew sales by about 14% in 1H19 to $113 million. Backed by Index Ventures, Datadog grew sales by 79% in 1H19 to $153 million, with a near-breakeven EBITDA of -2%.
Three healthcare filers joined the IPO