Impinj raises $67M in IPO, closes first day up 28%
July 22, 2016
The tech IPO market has another successful entry: Impinj (NASDAQ: PI), a provider of RFID technology for a wide array of uses including inventory management, asset tracking and item authentication. The company sold 4.6 million shares at $14 apiece, the upper end of its expected price range. And Impinj was well received in its first day of trading, closing Thursday at $18 per share, up more than 28%. Since its 2000 founding, Impinj had raised about $132 million in VC from firms including ARCH Venture Partners (10.7% pre-IPO stake), Madrona Venture Group (9.4%) and Mobius Venture Capital (9.2%).