Tableau Software, the Seattle provider of digital-charting tools, raised $254.2 million in its initial public offering, the largest U.S. technology IPO this year.
The company and its largest shareholder, New Enterprise Associates, sold 8.2 million shares for $31 each, according to data compiled by Bloomberg, after offering 7.2 million for $28 to $30 a share. Tableau raised the range from $23 to $26.
The stock, which begins trading Friday, will be listed on the New York Stock Exchange under the symbol DATA.
The IPO is the biggest for a U.S. technology company since business- software maker Workday raised more than $730 million in October.
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Tableau, whose software helps users without programming skills create complex graphics and maps out of data, aims to join a crop of recent business-technology providers to thrive on the public markets. Workday and ServiceNow have more than doubled since their debuts last year while Palo Alto Networks has gained 29 percent.
Tableau’s revenue climbed 62 percent in the first quarter to $40 million. Licenses accounted for about two-thirds of sales in the period, with the rest attributable to maintenance and services.
More than half the company’s revenue was spent on sales and marketing, and about a third on research and development, resulting in a $4.04 million net loss for the quarter. That compares with a profit of $1.06 million a year earlier.
Tableau, whose headquarters are in Fremont, was co-founded in 2003 by Pat Hanrahan, an Academy Award-winning Stanford University professor whose software has created movie special effects and animations.
More than 10,000 companies, including Bank of America, Coca-Cola and Apple, have used Tableau’s products. Competitors include IBM, Microsoft Oracle and Qlik Technologies.
Tableau’s biggest shareholder is venture-capital firm NEA, which had a 37 percent stake before the offering and planned to sell 1 million shares, according to the prospectus.
Hanrahan owned 18 percent, while co-founders Christopher Stolte and Christian Chabot, who is also CEO, each owned about 15 percent. Meritech Capital Partners controlled about 6.5 percent, the original offering terms show.
Goldman Sachs Group and Morgan Stanley led the deal.
In a separate technology IPO, Marketo raised $78.8 million, pricing 6.06 million shares at $13 apiece, the top of the marketed range.
The San Mateo, Calif., company, which sells software for marketing automation and sales effectiveness, competes with Eloqua, which Oracle bought last year for about $871 million.
Marketo, listed on the Nasdaq Stock Market, will trade under the ticker symbol MKTO. Goldman Sachs and Credit Suisse Group led the IPO.