CyberArk, a cybersecurity company providing enterprise level solutions for privileged account protection, has recently released details of its prospectus for an upcoming IPO on the NASDAQ stock exchange. Should all go well for the veteran Israeli startup, CyberArk could garner over $80M in newly raised capital come closing bell on trading day set for later this month.

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Facts and figures

CyberArk had already announced their plans to file an IPO prospectus for the NASDAQ back in late June, but details of the IPO were not known until now. According to NASDAQ, CyberArk is planning on issuing a total of 5.36 million shares on the exchange and an estimated value range between $13 and $15 per share. Should CyberArk manage to sell all of its shares, it would raise between $69.7M-$80.4M of capital. Chief underwriters for the proposed offering are Deutsche Bank, JP Morgan, and Barclays Capital.

Founded in 1999 by Alon N. Cohen and current CEO Udi Mokady, CyberArk is one of the oldest startups in Israel’s prestigious cybersecurity club, a specialty sector of Startup Nation boasting well over 220 members, according to Al-Monitor. While an $80M exit is respectable, it pales in comparison to the estimated near $1B acquisition of Trusteer by IBM one year ago this month.

Not bad for an old timer

Still, for a cash positive startup some 15 years in the making, the CyberArk exit is sure to be a welcome development for early investors; these include Seed Capital Partners, Cabaret-ArbaOne, Jerusalem Venture Partners (JVP), JP Morgan/Chase Partners and Vertex Venture Capital – all of whom surely feel they’ve been taking the scenic route to the NASDAQ trading floor.

No doubt these VCs knew what they were getting into when they first signed on to CyberArk back in 1999, and I’m sure whatever estimates CyberArk promised back in the day were lived up to by way of ROI expectancy and such.

That said, the market’s come a long way from 1999. Even if CyberArk has a favorable trading day issuance, these investors have had to sit on their money while watching younger prospects claiming next gen solutions and methods secure first round investments sometimes reaching close to a quarter of what CyberArk optimistically expects to walk away with.

To this point, JVP alone has been extremely active in seeking out new cybersec prospects over the last year, hosting $1M idea-only competitions for founders and investing in several promising up-and-coming cybersec startups, such as Nativeflow, GreenSQL and ThetaRay.

Hopefully CyberArk can wow its shareholders in the upcoming IPO. Otherwise, the long haul may not have been worth it.