Yext is set to raise $115.5M in its IPO after final pricing

Yext today said it would price its initial public offering at $11, meaning the company will raise around $115.5 million in its IPO as it sets up for a debut tomorrow.

Tomorrow, Yext will be the second enterprise company in the past week that will make its public debut, following this pricing. With Snap’s IPO seen as successful, as well as tech IPOs in general looking good so far, it seems like Yext may be able to capitalize on the appetite for freshly public tech companies. The so-called “IPO window,” at least for now, appears to be open — and now it’s a matter of figuring out the balance of ensuring a good pop for the company while not leaving too much money on the table.

The company last said it would price its stock between $8.00 and $10.00 per share, offering 10.5 million shares (along with the option for underwriters to purchase an additional 1.6 million shares). That means it’s also following the steps of Okta, which ended up settling on an optimistic price at the top end of its range. Including the option for additional shares, the so-called “greenshoe,” Yext could raise as much as $133 million.

In addition to investors and employees finally getting paid out for their efforts — Yext was founded in 2006 — these events are at their core fundraising events. But even with the now-healthy demand for new tech IPOs, it’s still going to be important for these companies to at the very least look like they’ve had a successful IPO and a big pop on their first days of trading.

Yext filed for its IPO mid-March on the same day that Okta, an identity management software provider, publicly filed. Okta made its debut last week with a bang, finishing up more than 38 percent on its first day of trading following a so-far-consistent string of successful tech IPOs, starting with Snap earlier this year.

Like Okta, Yext makes software that will be important to businesses going forward: ensuring that businesses — large and small — get the correct locations in search engines, maps and on social media. Retailers have to adjust to a world where fewer people will be going to their websites for addresses, which means they need to tap into a company like Yext that’s already built the infrastructure with all the necessary partners to make sure the addresses and locations are accurate.