Sumo Logic just raised $326 million in an upsized IPO. Here’s the first ever pitch deck it used to bring investors on board.
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- Data analytics firm Sumo Logic went public on Thursday – and saw a 22% pop in its stock price, closing at $26.88 per share.
- The company decided to enter the public markets amid the coronavirus pandemic because “the market opportunity is large,” president and CEO Ramin Sayar told Business Insider.
- Check out the first ever pitch deck the company used to bring investors on board way back in 2010.
- Visit Business Insider’s homepage for more stories.
Sumo Logic, the data analytics company based in California, raised $326 million in an upsized IPO on Thursday, amid a string of software companies going public.
The company’s stock price saw a modest 22% pop amid its debut, closing at $26.88 per share.
Speaking to Business Insider, CEO Ramin Sayar said the company decided to enter the public markets amid the coronavirus pandemic because “the market opportunity is large.”
“If you have the resilient business model and clear differentiation in value, you can still go out during these challenging times and use it as an opportunity to increase your growth,” he said. “That’s what we felt was really important for us.”
Now that it’s a public company, Sumo Logic will focus on scaling its team, making its product stand out, and growing its customers by building out its sales efforts.
“You’re only as strong as your team and your people,” Sayar said. “The focus continues to be on our teams and our personnel. We’re going to continue to invest in that.”
In a blog post published by Greylock Partners, an early Sumo investor, the firm details the origins of the company, and how cofounders Christian Beedgen and Kumar Saurabh started fundraising before they even had a name for their startup.
“The company had to quickly come up with a name in order to receive its initial funding, so they chose ‘Sumo’ – after Christian’s dog – as a placeholder,” the firm said.
It added that the initial pitch deck from those early days “shows how prescient the founding vision was.”
We got a peek at the pitch deck that brought Greylock and others on board: