Data Risk Software Maker Exterro Targets Possible 2023 IPO

Data Risk Software Maker Exterro Targets Possible 2023 IPO

Exterro Inc., a data risk and compliance software maker, on Monday is expected to announce a new round of investor financing that lifts its market value above $1 billion, a milestone that has the 14-year-old firm considering a public-market debut as soon as 2023, company officials said.

The latest funding round brings in a group of new institutional investors, co-led by Coller Capital and Glendower Capital. Terms weren’t disclosed.

Until four years ago, Exterro ran solely on its own revenue, with no investor funding, said Chief Executive

Bobby Balachandran.

Leeds Equity Partners, the company’s first outside investor, came on board in 2018.

“We’re getting ready for an IPO, and this is a time to really build and grow, even when everybody else is trying to put the brakes on,” Mr. Balachandran said.

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