VC-Backed IPOs End Q1 with a Bang

This week is shaping up as a busy one for venture-backed IPOs, with three offerings set to get out the door before the end of the quarter. 

Aruba Networks, which develops switching technology for large-scale Wi-Fi networks, is looking to raise up to $72 million in an offering on Nasdaq. The Sunnyvale, Calif., company, founded in 2002, has raised close to $97 million over the past five years from venture backers, including Sequoia Capital, Matrix Partner, Focus Ventures, Momentum Technology Partners and Trinity Ventures. 

SenoRX, which develops biopsy devices for early detection of breast cancer, is looking to raise up to $66 million. The Aliso Viejo, Calif., company, founded in 1998, has raised $55 million from venture funds including DeNovo Ventures, MPM Capital, Mayfield Fund, Medicus Venture Partners, Protostar Partners, RB Webber & Co., SunAmerica Ventures and Tyco Capital. 

GSI Technology, which designs SRAM (static random access memory) chips for telecom infrastructure, is set to raise up to $58 million in its IPO. The Santa Clara, Calif., company, founded in 1995, raised early stage funding ten years ago from Monet Capital.