Aerohive Raises $75M In IPO

Sunnyvale-based Aerohive Networks has raised $75M in its IPO, pricing its IPO last night at $10 per share. The company debuted this morning on the New York Stock Exchange as HIVE. Aerohive priced at the midrange of its initial estimated IPO range, which was $9.00 to $11.00 per share, and was trading down as low as $7.00 per share on its first day of trading. Aerohive had been venture backed by Northern Light Venture Capital, Lightspeed Venture Partners, New Enterprise Associates, Kleiner Perkins Caufield & Byers, and DAG Ventures.