Bellevue-based software company K2 announced today it has raised "well over" $100 million from a California private equity firm. The influx of cash will allow the cloud company to remain private.
K2 CEO Adriaan van Wyk said the company is ready to go public. It has 15 years of experience under its belt, strong revenue and predictable financials.
It even "briefly" considered filing an for an initial public offering when it began the fundraising process about 10 months ago. But van Wyk said he decided fairly quickly to go the private route for now.
"This was a very attractive alternative for us," he said. "One that would allow us to be more flexible in how we invest and how we attack the next 24 and 36 months without having the public looking over the shoulder of the business."
Read the complete article on Puget Sound Business Journal.