Friday, September 16, 2016
Everbridge Raises $90M In IPO, Sees Pop On Market Debut
Everbridge, a developer of emergency notification tools which was founded and still has major operations in both Glendale and Pasadena, has had an IPO, raising $90M for the company and marking another major, SoCal linked technology startup exit in what has been a busy year for deals. Everbridge is now trading on the NASDAQ Global Market as EVBG. The company is backed by ABS Ventures, Daughty Hansen & Co., Second Alpha Partners Fund, Eastward Capital Partners, PMC Financial Services, and others, and got started in Glendale as the National Notification Network (3N). Everbridge was up around 25 percent in its first day of trading, around $15.00 per share, after pricing at $12.00 per share last night. Everbridge priced at the center of its original, estimated range of between $11.00 and $13.00 per share.