Benzinga | Jun 21, 2021 03:08PM EDT

Software Database Firm Couchbase Files For US IPO: Reuters

* Database software firm Couchbase Inc registered for a U.S. initial public offering (IPO) to tap the remote work fueled demand for data storage and processing, Reuters reports.

* Couchbase plans to list on the Nasdaq under the ticker symbol "BASE."

* Reuters reported in March that Couchbase could be worth $3 billion in an IPO.

* Couchbase assists corporate customers like Infosys Ltd (NYSE:INFY) and Emirates manage databases on the web and mobile applications through its NoSQL cloud database service.

* Founded in 2011, Couchbase last raised $105 million at a valuation of $580 million in May 2020, reaching $294 million in total investor funding. The company's investors include GPI Capital, North Bridge Venture Partners, and Accel.

* Couchbase had first planned to go public in 2016 after it raised $30 million.

* Couchbase's latest listing plans follow cloud-based data-warehousing company Snowflake Inc's (NYSE:SNOW) 2020 listing at a $33 billion valuation.

* Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC are the lead book-running managers.