Ranging from rising startups to late-stage funded giants, companies in The Herd stand out for their exciting innovation, growth and market positioning
NEW YORK–(BUSINESS WIRE)–#DADavidsonIB–D.A. Davidson & Co. has released its annual The Herd report featuring the top 100 privately-held technology companies based in the U.S. largely falling within D.A. Davidson core areas of expertise; application software, infrastructure and security software, vertical software and financial technology. These companies were selected based upon growth rate, market awareness, scale, capitalization and other proprietary analytics generated by D.A. Davidson.
“The velocity of transactions in 2021 is truly remarkable. We’ve seen tremendous activity in the public equity markets highlighted by over 20 software IPOs since the first of the year and 60% of the companies in The Herd have raised a meaningful round since Q4 of 2020. We do not expect these trends to slow down in the near future,” said Greg Thomas, managing director, technology investment banking at D.A. Davidson. “The high profile success of several Herd companies, such as Snowflake, UiPath and Confluent, will continue to pull exciting growth stories to the public capital markets.”
This year’s The Herd report highlights highly recognized leaders of rapidly emerging software segments such as Attentive, Klaviyo and Outreach in customer engagement; Arctic Wolf, Cybereason and Venafi in cybersecurity; Cockroach Labs, Neo4j and Redis in next-gen database technologies; Addepar, MX and Stripe in financial technology; and ServiceTitan, SpotOn and Udemy in vertical software. In addition, several new and emerging members were added in 2021 including Harness, a CI/DC platform for developers, OneStream, a financial performance management platform and OneTrust, a privacy, security and data governance management platform.
“As we speak with management teams across The Herd landscape, we continue to be impressed with both the momentum and market opportunities these companies possess,” said Joe Morgan, D.A. Davidson’s co-head of technology investment banking. “Thematically, an area we are focusing our practice on is the intersection of vertical solutions and payments. A driving force on the Marlin acquisition for us was the belief that vertical focused software will continue to differentiate and grow through the integration of payments and data.”
D.A. Davidson’s annual The Herd report exhibits our commitment to helping rapidly growing companies achieve their strategic and financial goals. Our investment banking division is a leading full-service investment bank that offers comprehensive financial advisory and capital markets expertise. The group has extensive transaction experience serving middle market clients worldwide across four industry verticals: consumer, diversified industrials, financial institutions and technology. D.A. Davidson’s technology investment banking practice is one of the most active middle market groups in the United States having advised on over 50 advisory and public equity transactions representing more than $20 billion in value since January 2021.
A copy of the 2021 The Herd report can be accessed here.
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 28 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.
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