Software Database Firm Couchbase Files For US IPO: Reuters

Database software firm Couchbase Inc registered for a U.S. initial public offering (IPO) to tap the remote work fueled demand for data storage and processing, Reuters reports.
Couchbase plans to list on the Nasdaq under the ticker symbol "BASE."
Reuters reported in March that Couchbase could be worth $3 billion in an IPO.
Couchbase assists corporate customers like Infosys Ltd (NYSE:INFY) and Emirates manage databases on the web and mobile applications through its NoSQL cloud database service.
Founded in 2011, Couchbase last raised $105 million at a valuation of $580 million in May 2020, reaching $294 million in total investor funding. The company's investors include GPI Capital, North Bridge Venture Partners, and Accel.
Couchbase had first planned to go public in 2016 after it raised $30 million.
Couchbase's latest listing plans follow cloud-based data-warehousing company Snowflake Inc's (NYSE:SNOW) 2020 listing at a $33 billion valuation.
Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC are the lead book-running managers.