SailPoint Technologies Goes Public; Acquires $240 Million

SailPoint Technologies, which provides identity governance software to enterprises, raised $240 million by offering 20 million shares at $12 in its IPO, above the range of $9 to $11.

SailPoint is an identity and access management provider that strives to help organizations deliver and manage user access from any device. The company’s software integrates role management, access request management, and compliance management solutions to help enterprises capture control over user access, streamline IT compliance processes, and reduce the risks of fraud. The company previously raised more than $26 million.