The last couple of years have been quiet for IPOs.  Collapsing revenue multiples, rising interest rates, and an unpredictable economy made it hard for companies to go public. Many promising tech companies chose to wait it out, leading to some of the slowest years for IPOs in recent memory. In fact, 2023 and 2024 saw some of the lowest IPO activity in over a decade.

But 2025 could be different. With falling interest rates, and market sentiment improving, many of the tech darlings that stayed private are now rumored to be preparing for a public offering. Dozens of tech companies that have been growing behind the scenes might make their public debut.

A potential IPO should be exciting for the salespeople at these companies, too. Reps might see financial rewards if they hold options or shares. And going public can boost a company’s reputation and widen its reach, making it easier to attract new clients and close bigger deals.

From AI pioneers to fintech disruptors, these companies are positioning themselves to capitalize on renewed investor confidence and a tech-hungry market. 

Top IPO Candidates for 2025

The following companies have publicly stated intentions or are rumored to be exploring IPOs, and they fit RepVue’s criteria for size, industry, growth, and current/previous funding. Data is reported by either current or former employees for each company, and is current as of time of publication. 

Wiz – RepVue Score: 90.06 

Product-market fit: 4.8
Team quota attainment: 60%

Wiz is a cloud security platform that enables organizations to identify and manage security risks across their cloud environments. It provides tools for detecting vulnerabilities, misconfigurations, and compliance issues in cloud infrastructure and applications.

Figma – RepVue Score: 85.02

Product-market fit: 4.7
Team quota attainment: 43%
Figma is a web-based design tool used for interface design, prototyping, and collaboration. It allows multiple users to work simultaneously on the same design file, streamlining the design process for teams.

Ramp -RepVue Score: 90.27

Product-market fit: 4.6
Team quota attainment: 66%

Ramp offers a corporate card and spend management platform designed to help businesses control and optimize their expenses. It provides automated expense reporting, real-time spending insights, and integrations with accounting systems.

Deel -RepVue Score: 87.02

Product-market fit: 4.5
Team quota attainment: 64%

Deel is a global payroll and compliance platform that assists companies in hiring and paying international employees and contractors. It handles local tax compliance, contracts, and payments in various currencies.

Databricks – RepVue Score: 86.59

Product-market fit: 4.6
Team quota attainment: 47%

Databricks provides a unified data analytics platform built on Apache Spark. It facilitates data engineering, machine learning, and analytics by offering collaborative notebooks and managed cloud infrastructure.

Stripe– RepVue Score: 85.50

Product-market fit: 4.5
Team quota attainment: 66%

Stripe offers payment processing software and APIs that enable businesses to accept online payments securely. It supports a variety of payment methods and currencies, along with tools for billing, invoicing, and fraud prevention.

Rippling – RepVue Score: 87.15

Product-market fit: 4.5
Team quota attainment: 55%

Rippling is an all-in-one platform that integrates HR, IT, and finance systems. It automates processes like onboarding, payroll, benefits administration, and device management for employees.

Veeam – RepVue Score: 82.63

Product-market fit: 4.5
Team quota attainment: 34%

Veeam provides backup, recovery, and data management solutions for virtual, physical, and cloud-based workloads. Its software ensures data availability and simplifies disaster recovery processes.

Verkada – RepVue Score: 80.26

Product-market fit: 4.5
Team quota attainment: 34%

Verkada offers cloud-managed security solutions, including video surveillance cameras and access control systems. Its products combine hardware and software to provide real-time monitoring and analytics.

Addepar -RepVue Score: 83.27

Product-market fit: 4.5
Team quota attainment: 29%

Addepar is a wealth management platform that consolidates portfolio data for financial advisors and institutions. It delivers analytics and reporting tools to manage complex investments and client portfolios.

Gusto – RepVue Score: 83.51

Product-market fit: 4.4
Team quota attainment: 61%

Gusto is a platform for payroll, benefits, and human resources management aimed at small and medium-sized businesses. It automates payroll processing, tax filings, and offers employee benefit options.

Cato Networks – RepVue Score: 87.69 

Product-market fit: 4.4
Team quota attainment: 60%

Cato Networks offers a cloud-based platform that integrates SD-WAN and security services. Its solution includes features like firewalls, secure web gateways, and zero-trust network access to provide secure connectivity for users and locations. The platform is designed to manage both networking and security from a single cloud interface.

Genesys – RepVue Score: 84.21

Product-market fit: 4.4
Team quota attainment: 51%

Genesys provides customer experience and contact center solutions that help businesses manage customer interactions across phone, email, chat, and social media. Its software enhances customer service and support operations.

Gong.io – RepVue Score: 85.91

Product-market fit: 4.4
Team quota attainment: 49%

Gong.io offers a revenue intelligence platform that analyzes sales conversations from calls, meetings, and emails. It uses artificial intelligence to provide insights that help improve sales strategies and team performance.

SailPoint – RepVue Score: 86.57

Product-market fit: 4.4
Team quota attainment: 33%

SailPoint delivers identity governance solutions that help organizations manage user access to systems and data. Its products assist in enforcing security policies and compliance through automated access controls.

ServiceTitan – RepVue Score: 83.98 (Filed for IPO – 18 November 2024)

Product-market fit: 4.3
Team quota attainment: 63%

ServiceTitan is a software platform tailored for home and commercial service businesses like plumbing and HVAC companies. It provides tools for scheduling, dispatching, invoicing, and customer relationship management.

Plaid – RepVue Score: 87.81

Product-market fit: 4.3
Team quota attainment: 45%

Plaid offers APIs that connect consumer bank accounts to financial applications. It enables developers to build services that access banking information securely for purposes like budgeting, payments, and lending.

Proofpoint – RepVue Score: 82.33

Product-market fit: 4.3
Team quota attainment: 39%

Proofpoint provides cybersecurity solutions focusing on email security, threat protection, and data loss prevention. Its products help organizations safeguard against phishing attacks, malware, and other cyber threats.

Redis – RepVue Score: 85.26

Product-market fit: 4.3
Team quota attainment: 36%

Redis is an in-memory data structure store used as a database, cache, and message broker. Redis Inc. offers enterprise-grade versions and cloud services that enhance performance, scalability, and reliability for real-time applications.

Netskope – RepVue Score: 82.57

Product-market fit: 4.3
Team quota attainment: 35%

Netskope is a cloud security company offering solutions for secure access to cloud services and applications. It helps organizations monitor and protect data in cloud environments, ensuring compliance and security.

Grafana Labs – RepVue Score: 86.09

Product-market fit: 4.3
Team quota attainment: 33%

Grafana Labs develops open-source software for data visualization and monitoring. Its flagship product, Grafana, allows users to create interactive dashboards and visualize metrics from multiple data sources.

Dialpad – RepVue Score: 81.38

Product-market fit: 4.3
Team quota attainment: 33%

Dialpad is a cloud-based communication platform that provides voice, video, messaging, and contact center solutions. It integrates with various productivity tools to enhance business communication and collaboration.

Cohesity– RepVue Score: 82.34

Product-market fit: 4.2
Team quota attainment: 51%

Cohesity offers data management solutions that simplify backup, recovery, and storage across on-premises and cloud environments. Its platform consolidates data silos, improving efficiency and reducing costs.

Canva – RepVue Score: 81.27

Product-market fit: 4.2
Team quota attainment: 40%

Canva is an online design tool that enables users to create graphics, presentations, and other visual content. It offers a user-friendly interface with templates and a library of images and fonts suitable for various design projects.

Pendo.io – RepVue Score: 82.57

Product-market fit: 4.2
Team quota attainment: 32%

Pendo.io provides a platform that helps companies understand user behavior within their software products. It offers analytics, in-app guidance, and feedback tools to improve user experience and product adoption.

Snyk – RepVue Score: 84.86

Product-market fit: 4.1
Team quota attainment: 44%

Snyk is a security platform designed for developers to detect and fix vulnerabilities in open-source dependencies and container images. It integrates with development workflows to ensure applications are secure from the start.

Navan – RepVue Score: 78.78

Product-market fit: 4.1
Team quota attainment: 44%

Navan offers a travel and expense management platform that streamlines corporate travel booking and expense reporting. It provides real-time insights into travel spend and simplifies the reimbursement process.

Revolut – RepVue Score: 75.19

Product-market fit: 3.9
Team quota attainment: 48%

Revolut is a financial technology company that provides banking services through a mobile app. It offers features like currency exchange, international money transfers, budgeting tools, and cryptocurrency trading.

Brex – RepVue Score: 77.15

Product-market fit: 3.7
Team quota attainment: 33%

Brex provides corporate credit cards and cash management services tailored for startups and growing businesses. It offers expense tracking, rewards programs, and integrates with accounting software for financial management.

Notion – RepVue Score: 84.03

Product-market fit: 3.6
Team quota attainment: 48%

Notion is a productivity platform that combines note-taking, project management, and database functionalities. It allows users to create customized workflows for personal or team use, enhancing organization and collaboration.

Airtable – RepVue Score: 77.42

Product-market fit: 3.6
Team quota attainment: 35%

Airtable is a cloud-based collaboration tool that merges the simplicity of spreadsheets with the power of databases. It enables users to create custom applications and organize data for projects, content planning, and more.

Celonis – RepVue Score: 75.17

Product-market fit: 3.6
Team quota attainment: 23%

Celonis provides process mining software that helps organizations analyze and optimize their business processes. Its platform uses data from IT systems to identify inefficiencies and suggest improvements for operational excellence.

Are there any companies you think we should add to the list?
Let me know at ceo@repvue.com.