Benzinga | Jun 24, 2021 06:48AM EDT

Confluent Raised $828M In Upsized IPO At $36/Share; Trading Begins Today

* Confluent Inc (NASDAQ:CFLT) raised around $828 million in its U.S. initial public offering, selling 23 million shares at $36 per share.

* The data infrastructure software maker previously marketed the IPO between $29 - $33, Bloomberg reports.

* The shares are likely to begin trading today on the Nasdaq under the symbol "CFLT."

* Confluent had a diluted valuation close to $12 billion. Confluent was last valued at $4.5 billion in a 2020 funding round.

* Confluent has over 2,500 customers, which use its platform to organize and manage data.

* Benchmark Capital, Index Ventures and Sequoia Capital, Kreps, and Rao are its significant shareholders.

* Confluent reported a net loss of $44.5 million on revenue of $77 million in Q1 FY21 compared to a $33.6 million loss on $51 million in Q1 FY20.

* Morgan Stanley (NASDAQ: MS), JPMorgan Chase & Co (NASDAQ: JPM), and Goldman Sachs Group Inc (NASDAQ: GS) led the IPO.