LinkedIn-backed Confluent files for U.S. IPO


Confluent Inc, a real-time event streaming platform, has confidentially submitted paperwork for a U.S. initial public offering.

The company, which is backed by Microsoft Corp’s LinkedIn, did not disclose any other details about its listing plans on Thursday.

Mountain View, California-based Confluent, whose other investors include venture capital firms Sequoia Capital and Index Ventures, was valued at $4.5 billion in April 2020 after its last fundraise, according to PitchBook.

The cloud technology-based company also allows organizations to build applications that react and respond to data flow, its website said.

The U.S. market for new listings saw companies raising a record amount of capital through stock flotations last year and 2021 is poised to eclipse that soon, with companies having raised a total of about $150 billion through IPOs so far this year, according to data from Dealogic.