Software maker Yext priced its shares at $11 on Wednesday, raising more than $115 million before its initial public offering. Yext, which will begin trading on the New York Stock Exchange Thursday, is the second enterprise tech company to go public in the past week.
New York City-based Yext syncs data from local businesses with services like Instagram, Yelp, and Apple Maps to boost awareness and increase sales. Co-founders Howard Lerman, Brian Distelburger, and Brent Metz launched the company in 2006. Lerman, Yext's CEO, previously founded the anonymous tip site JustATip, which was sold to Traffix. Distelburger, the company's president, is the former chairman of smart menu business Food Genius. No longer with Yext, Metz is now the CEO of Felix, a local advertising company.
Yext's public debut comes less than a week after the IPO of identity management software provider Okta, which saw its shares jump more than 38 percent in their first day of trading on April 7. This year has seen a string of successful technology IPOs, including Snap and enterprise software company MuleSoft in March, breaking last year's dry spell.
Yext was ranked fourth in the annual list of the top 30 technology companies to work for, produced by workplace culture consultant firm Great Place to Work and Fortune.