Network software company FatPipe (FATN.US) applies for a US IPO, aiming to raise $17 million.

FatPipe (FATN.US), which provides network software solutions for businesses, submitted its initial public offering (IPO) application to the U.S. Securities and Exchange Commission (SEC) last Friday, with plans to raise $17 million. The company plans to list on Nasdaq under the code FATN. FatPipe provides enterprise-grade, application-aware, secure Software Defined Wide Area Network (SD-WAN) solutions for organizations including enterprises, communication service providers, security service providers, government agencies, and mid-market companies. Through its integrated software solution suite, the company offers customers a reliable and secure platform to support mission-critical applications running on cloud, hybrid cloud, and on-premises networks. The company's core products include SD-WAN, Secure Access Service Edge (SASE), and Network Monitoring Service (NMS) software solutions, each typically provided as a subscription service. FatPipe primarily serves clients in the United States and India, although the company plans to expand its business in certain regions of North America and Southeast Asia. Headquartered in Salt Lake City, Utah, FatPipe was founded in 2010 and generated revenue of $18 million in the 12 months ending March 31, 2024. FatPipe had previously filed confidentially on October 10, 2023. Roth Capital is the sole book-running manager for this transaction. The company has not disclosed pricing terms yet.