Is Lacework IPO happening & can you buy this cloud security stock?

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Is Lacework IPO happening & can you buy this cloud security stock?

Lacework IPO
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Highlights:
  • Lacework said its data platform will be available on the Google Cloud Marketplace.
  • Google and Lacework have also teamed up for future integrations on Google Cloud Security Command Center (SCC).
  • Last year, Lacework reportedly raised US$ 1.3 billion in a funding round and achieved a valuation of US$ 8.3 billion.

California-based cloud security company Lacework announced on Wednesday, February 2, that it has partnered with Google Cloud for the Lacework Polygraph® Data Platform.

It appears that ever since the cloud security company came up with this announcement, stock market enthusiasts have started looking up Lacework IPO plans.

Why is Lacework's announcement important?

According to the company statement, Lacework Polygraph® Data Platform will offer automated anomaly detection to the global infrastructure of Google Cloud.

Notably, anomaly detection is a critical step in data mining, and anomalous data can help indicate technical glitches and changes in consumer behaviour, among other things.

The cloud security company has said that its data platform will be available on Google Cloud Marketplace.

Lacework IPO                                                                                         ©2022 Kalkine Media® 

Google and Lacework have also teamed up for future integrations on Google Cloud Security Command Center (SCC). This is expected to benefit customers of both the companies.

Lacework claims that its polygraph data platform is capable of helping organizations to unearth suspicious activity in a multi-cloud environment. The platform can help organizations detect and address threats to their businesses.

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The company statement mentions that this partnership can help customers of Google Cloud to purchase Lacework's automated security quickly.

Lacework IPO on the cards?

Although the company has announced partnering up with Google, it is not clear if the company has an initial public offering (IPO) plan.

As a retail investor, you cannot buy this cloud security stock at the moment. You will have to wait for the company to go public to buy this stock.

Bottom line

Last year, Lacework reportedly raised US$ 1.3 billion in a funding round and achieved a valuation of US$ 8.3 billion. At the beginning of 2021, Lacework had raised US$ 525 million at a valuation of one billion US dollars.

Lacework was established in 2015, and it has various offices all over the world. The company is backed by top investors like Altimeter Capital, Snowflake Ventures, and Sutter Hill Ventures.

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