CB Insights releases fourth annual Tech IPO pipeline report

BOSTON – The fourth annual CB Insights Tech IPO pipeline report features 531 “of the most promising and highly valued private and private equity-backed technology companies” in the country.
“These 531 companies represent the cream of the technology” crop, the report states. “You can expect that many of these companies will go on to become the S&P 500 companies of tomorrow.”
The only Rhode Island company on the list is Cranston jewelry maker Alex and Ani.
Anand Sanwal, CEO and co-founder of CB Insights, said some of the candidates identified for initial public offerings next year are not “household consumer names,” and are focused on “less sexy areas (of course, this depends on your perspective) like analytics, data centers, security and application integration.”
The report found that there are 64 New York IPO pipeline companies compared with 44 in Massachusetts, and 291 in California, showing the Silicon Valley’s dominance in the industry. Massachusetts’ number of pipeline companies fell 57 percent over the year to 44, the report said.
SV Angel, a San Francisco-based angel investment firm, had the most 2016 tech pipeline companies valued at $1 billion or more, with 21 in total; it was an early investor in 67 percent of those firms, the report said.
The average amount raised by 2016 pipeline companies was $182 million, an increase from $111 million last year. Equity financing raised to date by tech IPO pipeline companies totals $89 billion.
Top tech IPO candidates for 2016 include Actifio, a Waltham, Mass., information technology company; Mulesoft, a San Francisco software company; San Francisco-based Okta Inc., a corporate software startup; and Zuora, an enterprise software company in Foster City, Calif.

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