Lacework Stock Was Acquired by Fortinet, no IPO
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Explore the future of Lacework stock as reporting indicates it may be a takeover candidate. Pre-IPO market data on the Hiive platform confirms Lacework’s private value has fallen dramatically from its highs.
Table of Contents
Recent Lacework News
08/02/2024: Fortinet Completes Acquisition of Lacework
06/10/2024: Fortinet to Acquire Lacework
05/02/2024: Wiz deal to acquire Lacework collapses
04/25/2024: Mastering the IPO: Lacework CFO Andrew Casey
Older news…
What is Lacework?
Lacework is a data-driven security platform for the cloud. The cybersecurity startup helps customers embrace security as an enabler of innovation rather than a hindrance. The company aims to be a leading security platform for the cloud by focusing on its customers.
Its core product, Polygraph, automates cloud security at scale so customers can innovate quickly and safely. The software detects threats and vulnerabilities in cloud environments, then provides customers with the data necessary to beef up security.
Lacework was founded in 201 by Vikram Kapoor. His background in databases and security (Oracle, Bromium) led him to become an entrepreneur-in-residence at Sutter Hill Ventures. Kapoor believes data is the new oil, meaning those capturing lots of it can refine and extract value to reduce vulnerabilities.
The company’s strategic cloud partnerships include Snowflake, Google Cloud, AWS (Amazon), and Microsoft Azure.
Lacework is headquartered in Mountain View, California. In 2022, it was named as a Forbes Cloud 100 leader alongside Databricks and the fintech leader Plaid.
Here’s a short video that describes how the platform works.
Is Lacework Stock Publicly Traded?
No. Lacework is a private company.
Who Owns Lacework?
Lacework is a venture-backed private startup. Shareowners include founders, employees, and multiple venture capital firms.
The company has raised about $2 billion in venture capital funds.
The latest Series D funding round was a $1.6 billion raise completed in November 2021.
Prominent venture capital investors include Sutter Hill Ventures, Altimeter Capital, D1 Capital Partners, Tiger Global Management, Counterpoint Global (Morgan Stanley), Durable Capital, Franklin Templeton, General Catalyst, XN, Coatue, Spike Ventures, Dragoneer, Liberty Global Ventures, and Snowflake Ventures.
Lacework Valuation
The November 2021 Series D funding round confirmed the current Lacework valuation to be $8.3 billion. Note that November 2021 was the height of IPO mania. The company is likely worth less today.
Reporting by TechCrunch suggests Lacework is in negotiations to be acquired by Wiz for $150-$200 million dollars. Data on the pre-IPO marketplace Hiive supports the reporting of a dramatically decreased valuation.
When is the Lacework IPO Date?
The Lacework IPO date is currently unknown. Reporting by TechCrunch indicates an acquisition is more likely.
Lacework hired CFO Andrew Casey in November 2021 in a show of IPO intent. Casey has prior experience in the CFO role while taking WalkMe through the IPO process in 2021.
In an interview with Casey after his hiring at Lacework, the Wall Street Journal reported this:
One of Mr. Casey’s priorities in the new role will be building out Lacework’s processes for reporting information required for public companies, such as executive compensation, as well as establishing predictable financial forecasts, to prepare the company for a future IPO. Lacework has ample cash from last year’s (November 2021) fundraising round and likely won’t need more capital for at least a couple of years. The company, however, intends to tap the public markets for its next capital raising, noting it could take time for the IPO market to recover from its recent declines.
The onboarding of Andrew Casey is the first step in the long process of becoming IPO-ready.
When market conditions improve, we should see new signs of a Lacework IPO, such as hiring an investment bank to serve as lead underwriter and the confidential filing of form S-1 to the SEC.
Bookmark this page for the latest developments.
What is the Lacework Stock Symbol? Lacework Ticker?
There is no Lacework stock symbol yet because it is a private company.
Here are a few Lacework ticker suggestions that appear to be available in the U.S.:
- LACE
- LCE
- LWKS
What is the Lacework Stock Price?
A public Lacework stock price does not exist because the company is private.
Private stock price information is becoming more available and reliable based on pre-IPO marketplace data and other sources.
However, the stock price is only the value of one share. Like public companies, the underlying valuation metrics, revenue, profitability, and market sentiment toward private companies are more significant factors than the share price.
How to Invest in Lacework Stock
Since Lacework is a private company, investors will unlikely become equity owners today.
However, you can improve your chances of early equity ownership or acquiring shares in the IPO by paying attention and taking the appropriate actions.
Accredited investors may have an easier time via pre-IPO investing platforms.
Before investing in IPOs, read our guide to learn if IPOs are a good investment for you.
1. Access Lacework Stock via Pre-IPO investing platforms
The author has seen evidence of Lacework stock being available on the largest pre-IPO platforms.
However, now that the company may be in negotiations to be acquired, it may be unwise to pursue pre-IPO shares.
Investors can monitor pre-IPO investing platforms such as EquityZen, Hiive, Forge Global, Equitybee, and Linqto for share availability.
Expect to pay at least a $10,000 investment minimum. It’s free to sign up for online access to pre-IPO data and deal alerts.
Pre-IPO investing platforms empower users to indicate interest in companies they wish to invest in. Users can indicate their interest in Lacework stock, and the platforms may seek to acquire shares for users.
Some pre-IPO investment opportunities may become available via diversified venture capital funds such as the Fundrise Innovation Fund. However, you cannot select individual pre-IPO companies within a venture capital fund, and Lacework is not in the portfolio at this time.
Check out our list of top pre-IPO investing platforms for current share availability.
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. Buy stock during Lacework IPO through a participating broker
Lacework conducted a private funding round toward the end of 2021 at the height of IPO euphoria. Series D provided sufficient funding for operations. CFO Andrew Casey stated upon his hiring that the next funding round would be a public one.
Multiple venture capital firms have invested in Lacework and will eventually encourage leadership to conduct an IPO when market conditions improve.
This year looks more promising for IPOs, but Lacework is likely at least 6-12 months away from its upcoming IPO. Silicon Valley Bank’s failure has spooked investors, which could delay significant IPO volume for another year.
IPO investors may find opportunities to invest in the IPO when it arrives.
Once reserved for Wall Street’s wealthiest customers, IPO access has become more attainable to retail investors in the past few years.
The following online brokers give customers free access to IPOs with low account balances:
Brokers sometimes negotiate exclusive IPO share allocations for retail investors.
Access to specific high-demand IPOs may be limited by which brokerage accounts you have and what broker gets exclusive access.
TradeStation has a longer track record of accessing more than 300 IPOs and secondary offerings via its partnership with ClickIPO.
But Robinhood has the advantage of Silicon Valley networks and a history of getting allocations for high-profile IPOs.
Read S-1 filings to find opportunities through various brokers.
Check out this list of best brokers for IPO investing to learn more about IPO access for retail investors.
3. Buy the stock after the Lacework IPO
Though waiting for the IPO requires patience, there are advantages to waiting for the stock to become publicly traded before owning.
First of all, the IPO allows investors to review financials. Pre-IPO investing has limited financials available.
Second, IPO stock prices typically rise with high-demand companies. You can benefit if you’re in early and sell when the price overheats.
Many IPOs start with an immediate price increase (“the pop”). Then the stock falls once quarterly earnings reports become available.
In 2021, for example, both Rivian and Robinhood became high-flying IPO stocks. But six months after the IPO, both stocks were more than 80% below their price peak.
Stock price declines after IPOs can be excellent entry points.
Avoid buying overvalued shares immediately after the IPO. Shares often fall after the IPO due to lockup expirations and quarterly earnings disappointments.
However, the most disruptive companies will be higher in a decade. Patience pays.
Where can I find the Lacework IPO S-1 Filing?
Lacework has yet to release an S-1 filing to the public. Moreover, there is no evidence of a confidential S-1 filing yet.
News of a confidential or public S-1 filing would kick off the IPO process, suggesting the IPO could occur during the following two to six months.
When the company releases the 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 S-1 filings feed.
Recent Lacework IPO Stock News
04/18/2024: Lacework in talks to sell for just $150M to $200M
09/13/2023: Lacework and Snowflake Strengthen Partnership
11/17/2022: Lacework Taps New CFO as It Weighs IPO
05/27/2022: Cloud security unicorn cuts 20% of staff after raising $1.3b
11/18/2021: Lacework Raises $1.3 Billion at $8.3 Billion Valuation
01/07/2021: Lacework Closes a $525 Million Growth Round
09/12/2019: Lacework Closes $42 Million Financing Round
08/28/2018: Lacework Closes $24 Million Series B Financing
Conclusion
Investors become interested in buying companies riding extraordinary macroeconomic trends (cloud, cybersecurity). When those companies are private, it becomes much more difficult to invest.
But not impossible.
Buying Lacework stock before the Lacework IPO will prove difficult for retail investors, especially non-accredited ones.
Pre-IPO investing platforms have opened more opportunities for retail investors. But private equity investing is still mostly reserved for accredited investors.
Investors will likely find it challenging to acquire shares before the Lacework IPO, but a new private funding round could help. Most retail investors will need to wait until the IPO to invest.
If you are inclined to pursue IPO shares and early equity in Lacework, maintain reasonable expectations.
Good luck if you wish to participate in the Lacework IPO. Invest in pre-IPO and IPO companies at your own risk.
* 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, RIVN, the Fundrise Innovation Fund, and the ARK Venture Fund.
Craig Stephens is a former IT professional who left his 19-year consulting career at the IRS to be a full-time finance writer. A DIY investor since 1995, he started Access IPOs in 2016 to provide a resource for ordinary investors pursuing access to IPOs. Craig studied Finance at Michigan State University and lives in Northern Virginia with his wife and three children. Learn more about Craig.
