Investors have speculated about Pluralsight’s IPO ambitions since 2014, when it raised $135 million in Series B funding and subsequently joined the unicorn ranks with a $1 billion valuation. Two years later, the company raised an additional $30 million and reported revenue of over $100 million.
Not much information is available about Pluralsight’s financials since its S-1 is still under wraps. It’s somewhat unusual for a company to issue a press release announcing that it has confidentially filed IPO paperwork.
The company’s biggest challenge is explaining to Wall Street what differentiates Pluralsight from its many competitors.
The venture-backed “unicorn” has been a late stage company for several years now.
Pluralsight works primarily with large tech organizations to help them train their employees “at scale.” Among their biggest customers are VMware, AT&T, Tableau and Adobe.
Pluralsight is the latest enterprise tech startup to file to go public on the tailwind’s of Dropbox’s successful IPO in late March. It’s joined by Zuora, DocuSign, SmartSheet, and Pivotal, all which filed to go public over the course of March.