D.A. Davidson & Co. has released its second annual The Herd report featuring the top 100 privately held technology companies based in the U.S. These companies were selected based upon growth rate, market awareness, scale, capitalization and other proprietary analytics generated by D.A. Davidson.
“The technology capital markets have shown incredible resilience in 2020 as software and internet businesses continue to both disrupt established industries and add value to our everyday lives,” said Joe Morgan, D.A. Davidson’s Head of Technology Investment Banking. “Our first Herd report represented D.A. Davidson’s best view of the most disruptive technology companies. This initial cohort of Herd companies has gone on to achieve nine initial public offerings and 57 private capital raises representing over $26 billion raised in the past 12 months. We are incredibly excited to announce this new class of Herd companies and closely monitor their progress over the coming months.”
This year’s Herd highlights highly recognized leaders of rapidly emerging software segments, such as UiPath in robotic process automation, Confluent and Gitlab in dev ops, Databricks and Redis Labs in next-gen database, and Cohesity in cloud data management. In addition, several new and emerging members were added in 2020, including Alkami in digital banking solutions and SentinelOne in endpoint security management.
“The amount of capital flowing to the technology disrupters across these megatrends has been strong in 2020,” said Greg Thomas, Director, Technology Investment Banking. “Our Bison Select research series has covered a number of these category defining businesses, highlighting their unique solutions, large addressable market, quality management teams and significant product market fit.”
The Herd 2020 also includes a review of S-1 metrics from 12 recent software and internet filings, highlighting the key performance indicators that public institutional investors focus on in their evaluation of these offerings.
Today’s D.A. Davidson’s technology team across its Equity Capital Markets platform includes:
- 22 technology investment bankers who completed more than 20 capital markets transactions with a total deal value of $9.8 billion since 2018;
- 13 research professionals covering more than 130 technology stocks;
- Equity sales and trading team that makes a market in approximately 150 technology stocks;
- Annual Software & Internet conference in New York with over 500 public, private companies and institutional investors;
- Bison Select series of research reports highlighting The Herd private software companies.
D.A. Davidson’s Equity Capital Markets group provides capital markets services and products that include investment banking, institutional sales, trading, research and corporate services. The firm’s industry-driven research team is supported by a dedicated group of sales and trading professionals.
About D.A. Davidson Companies
D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 and headquartered in Montana, with corporate offices in Denver, Los Angeles, Portland and Seattle, the company has approximately 1,400 employees and offices in 26 states.
Subsidiaries include: D.A. Davidson & Co., the largest full-service investment firm headquartered in the Northwest, providing wealth management, investment banking, equity and fixed income capital markets services and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser providing fixed income portfolio and advisory services.
For more information, visit dadavidson.com.