The Best IPOs to Buy for the Rest of 2017: MuleSoft
IPO Timetable: Week of March 13-17
Running an IT department isn’t getting any easier. The pace of change continues to accelerate, and there are increasing types of technologies to manage, including the cloud, mobile, big data, analytics and the internet of things (IoT).
That’s where MuleSoft comes in.
MuleSoft develops APIs that help to connect disparate technologies and platforms. That not only allows for real-time access to critical information, but it results in lower costs for customers.
The revenue growth ramp has been impressive, with sales jumping from $57.6 million in 2014 to $187.7 million in 2016. Like Snap, though, the company does lose money, including $49.6 million in red ink last year.
MuleSoft currently boasts more than 1,000 customers, as well as 30 contracts that exceed $1 million in annual revenues. Still, there should be a ton of room for growth, as according to MuleSoft’s own estimate, the market opportunity is a hefty $29 billion.