Will the Cohesity IPO Finally Happen in 2024?

Explore ways to own Cohesity stock before and during the upcoming Cohesity IPO, which may arrive in 2024. Get access to select pre-IPO startups via the Fundrise Innovation Fund. 

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Recent Cohesity IPO News

02/08/2024: Cohesity and Veritas’ Data Protection  to Combine
08/18/2023: BI: Cohesity prepares for a public listing
08/07/2023: Cohesity Appoints Eric Brown as CFO
12/21/2021: Cohesity confidentially files for IPO
Older news…

About Cohesity

Cohesity is a cybersecurity startup with a mission to help secure and manage the world’s data and help organizations unlock limitless value with data insights. The company’s AI-powered products operate across multiple enterprise IT platforms and cloud environments. 

It provides data protection security at scale, backups, disaster recovery, and ransomware protection in a “cohesive” hyper-converged cloud-native platform. 

Cohesity is for cybersecurity professionals with complicated enterprise hardware, software, and cloud environments. It’s a consistent leader in the Gartner Magic Quadrant for Enterprise Backup and Recovery Software Solutions.

The company was founded in 2013 by Mohit Aron, previously a co-founder of Nutanix. Its headquarters are in San Jose, California. 

Here’s a highly informative video of CEO Sanjay Poonen talking about the company and how its products secure IT enterprises.

Ownership

The following companies have invested in Cohesity: 

Sequoia, Wing Venture Capital, ARTIS Ventures, Qualcomm Ventures, Access Partners, Battery Ventures, GV, Trinity Ventures, SoftBank Vision Fund, Cisco Investments, Hewlett Packard Enterprise (HPE), Morgan Stanley Expansion Capital, Steadfast Capital Ventures,  DFJ Growth, and Foundation Capital. 

IPO Potential

The specific Cohesity IPO date is unknown, but it may be a 2024 IPO candidate. 

Cohesity filed confidentially for an IPO in December 2021. However, like many startups that filed at the time and into 2022, Cohesity missed the window of opportunity.

2023 was a recovery year for IPOs, but 2024 may see an increase in volume. 

Cohesity hired a new CFO in August 2023 with significant experience managing the finances of public companies. Cybersecurity rival Rubrik is a leading IPO candidate for 2024. If Rubrik conducts a successful IPO, Cohesity may be close behind. 

CEO Sanjay Poonen told Business Insider in August 2023:

I would say we continue to be in a state of public readiness. And as the market opens up, we’ll pick the right time, whether it’s fall [2023], whether it’s next year [2024].

Valuation

The Cohesity valuation is $3.7 billion, based on a statement released in March 2021. 

The company had ambitions of a $5 to $10 billion valuation in late 2021 when it filed confidentially for an IPO. 

As it approaches its potential 2024 or 2025 IPO, we should learn more about the desired public offering and valuation. 

How to Invest in Cohesity Stock

Buying private shares will likely become more challenging as Cohesity approaches its IPO date, which is now expected sometime in 2024.

Current shareholders are less likely to liquidate in private transactions when a public transaction is near. 

Aspiring shareholders can increase their chances of early equity ownership or obtain shares in the IPO by taking the actions outlined below.

1. Monitor Cohesity share availability on pre-IPO investing platforms

I have seen evidence of Cohesity stock being available on multiple pre-IPO platforms. However, not recently. 

If the company is close to an IPO, we will likely not see further pre-IPO access to Cohesity shares. 

Investors can still monitor pre-IPO investing platforms such as Hiive, Equityzen, Forge Global, and Linqto for share availability. 

Direct pre-IPO investors must be meet the SEC accreditation requirements. Minimum investments range from $5,000 to $50,000 or more for these different platforms.

Non-accredited retail investors can own pre-IPO companies by owning the Fundrise Innovation Fund.

However, pre-IPO investors cannot select individual companies, and Cohesity stock is currently not present in the portfolio.

Please note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on AccessIPOs.com. All opinions are my own.

2. Access Cohesity IPO shares through a broker

The Cohesity CEO said it is IPO-ready and is waiting for advisors to give the go-ahead with a public offering.

Now is when investors can start preparing to invest in the Cohesity IPO. By having accounts with popular online brokers that offer IPO access, investors can monitor the platforms for IPO access. Make sure to pre-fund your account to be prepared to invest in IPOs (most brokers require cleared funds, and transfers can take up to a week to clear). 

The following online brokers give their users access to IPOs:

• TradeStation 
• Robinhood

J.P. Morgan and Morgan Stanley are the reported lead underwriters of the deal. 

Neither has a deep history of providing IPO shares to customers. It remains to be seen if they offer IPO shares to retail investors.

Many shares will go to the underwriters’ wealthy clients. We learn about this access in the S-1 filing, which comes out a month or two before the IPO, and then get updated with more details as the IPO approaches.

Usually, one week out, we learn which brokers will get access. 

TradeStation has a long track record of accessing more than 360 IPOs and secondary offerings via its partnership with ClickIPO. 

Robinhood has the advantage of Silicon Valley networks, which could be helpful with Cohesity.

There may be enough retail shares for multiple brokers to get an allocation. 

Read the S-1 filing to find mentions of these online brokers to identify opportunities. 

Check out this list of best brokers for IPO investing to learn more about IPO access for retail investors.

3. Buy Cohesity stock after the IPO

A pending Cohesity IPO, potentially coming in 2024, may limit retail investors’ chances to secure pre-IPO shares.

Investing post-IPO offers advantages with comprehensive financial data available after a few quarters. Pre-IPO investing lacks such transparency.

IPOs yield rising stock prices in the short term, especially for high-demand companies. Early entry and strategic selling could empower nimble investors to capitalize.

Post-IPO, beware of inflated share prices. Avoid hasty purchases, as post-lockup expirations and earnings disappointments often lead to declines within the first year of trading. 

Selective and patient investing, particularly in disruptive companies like Cohesity, promises higher valuations in the long run.

Frequently Asked Questions (FAQs)

Is Cohesity publicly traded today?

No. Cohesity is not publicly traded. It is privately-held.

What is the Cohesity stock price?

A public Cohesity stock price does not exist because the company remains private. 

Due to limited transaction volume and various share classes, private prices and valuations do not necessarily indicate a future IPO price.

We won’t get an accurate Cohesity stock price until the IPO filing terms are updated and shared with the public. Underwriters will finalize the Cohesity IPO prices the evening before the public debut. 

What is the Cohesity stock symbol?

There is no Cohesity stock symbol yet because it is a private company.

However, the company likely reserved a ticker symbol in December 2021 when it filed confidentially for an IPO. We won’t know the Cohesity symbol until an S-1 filing is released to the public. 

We can speculate about the Cohesity ticker before it pursues an IPO. The following Cohesity ticker suggestions are available in the U.S.: 

• CH
• SITY
• CSTY
• CHSY

Where is the Cohesity S-1 Filing?

Cohesity submitted a confidential S-1 filing to the SEC in late 2021. However, that version was never released to the public and is far outdated now. They will need to update the S-1 and resubmit to the SEC for qualification. 

Most companies start with a confidential filing and then release the filing to the public when ready to start the IPO process. A confidential resubmission has not been announced or reported. 

When the company releases its S-1 filing to investors, we’ll link to and embed the document on this web page.

In the meantime, you can check out the most recent S-1 filings in our filings feed. 

Cohesity News Archive

12/16/2021: Cohesity Is Working With JPM and MS
03/30/2021: Cohesity Announces a $3.7 Billion Valuation
06/11/2018: Cohesity Raises $250 Million in Funding
04/04/2017: Cohesity Raises Over $90 Million in Series C Funding
06/17/2015: Cohesity Emerges from Stealth Mode with $70 Million in Venture Funding

Conclusion

Investors get excited when they identify companies riding extraordinary macroeconomic trends like cybersecurity and physical security. This can lead us to private companies positioning to profit from massive opportunities. 

Cohesity is a leader in cybersecurity and cloud-native IT enterprise protection. Many users and executives in the know may look for early access. 

However, buying the stock early on can often prove difficult for retail investors. 

Though pre-IPO investing platforms have opened more opportunities, private equity investing is still primarily reserved for the ultra-wealthy, requiring millions to invest in seed and early funding rounds for disruptive companies. 

So, maintain reasonable expectations if you decide to pursue Cohesity stock during the IPO. Good luck. Invest in pre-IPO and IPO companies with caution.

* Disclosure: The web page contains affiliate links from our partners. If a reader opens an account or buys a service from a link in this article, we may be compensated at no additional cost to the reader. Opening an account with a broker that provides access to IPOs does not guarantee the customer allocations of specific IPOs. The author is long HOOD and the Fundrise Innovation Fund.