As SaaS (software-as-a-service) is progressing as a sector for the past several years, companies and tech startups like Asana are emerging to try and take a favorable market share in the industry.
Asana is offering services for collaboration and tracking with the aim to make working and collaborating within companies and businesses much easier and simpler, which is how the company managed to report a growth of 2.4 times its previous, ARR, while the company had a successful funding round E in the last quartal of 2018 when the tech startup raised 50 million dollars in funding.
According to the company’s latest announcement; Asana IPO is not coming in 2019, they’ll be pursuing an IPO this year.
What to Expect from the Upcoming Asana IPO?
Asana is preparing to go public with the most recent private funding round bringing 50 million dollars to the company, which sent the estimates for the upcoming IPO to 1.5 billion dollars, including the previous private funding rounds earlier in 2018.
Earlier in 2018, Asana made it with 75 million dollars from their E funding round, while round C brought 90 million, altogether bringing estimates at 1.5 billion dollars.
Asana IPO is available through pre-IPO sale, while the initial offering should be opened for public trading in the course of the next several months and no later than during Q2 of 2019.
The company currently has around 50,000 paying customers, while the funds collecting through private investors will be used for expansion according to the company’s representatives.
Asana has been in the business of project management and SaaS industry since 2008 and during this time period, the company showed an immense growth potential that investors such as Benchmark and Founder Fund noted right at the beginning of company’s business.
Although Asana might be not the shiniest IPO upcoming, it will most certainly attract more investors once the company goes public.