Business

Tableau plans to raise $345M — more than its IPO — with new stock offering

Tableau money
Image Credit: Illustration by Eric Blattberg / VentureBeat

Data visualization company Tableau Software is looking to absorb a hefty amount of cash.

Ten months after a blockbuster $254 million initial public offering, the Seattle, Wash.-based software company intends to raise another $345 million in a new stock offering, according to a recent filing with the Securities and Exchange Commission.

Tableau’s mission is to help people “see and understand data.” The company offers products that nontechnical folk can use to create rich, interactive charts and simulations based on raw data.

The company wrote in its filing that it intends to use the net proceeds for “working capital, sales and marketing activities, general and administrative matters and capital expenditures.” Tableau also mentioned acquisitions as a potential use of the cash. It has never acquired another company in its 11-year history.

The company had about $252 million in its war chest at the end of last year, according to the filing. It posted a $7.1 million net profit in 2013, up from $1.4 million in 2012.

Goldman Sachs and Morgan Stanley are leading the new offering in Tableau, which trades on the New York Stock Exchange under the ticker symbol “DATA.”

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