Business intelligence was one of the key buzzwords in years past. With the explosive growth of the cloud, machine learning, automation and artificial intelligence, is it a shock that there is already a new term? A fresh initial public offering (IPO) from Sumo Logic Inc. (NASDAQ: SUMO) wants the next big term to be “continuous intelligence,” and investors just paid a premium for its opening value in Thursday’s IPO.
Sumo Logic calls itself the pioneer of continuous intelligence. The company describes this new software category as enabling organizations of all sizes “to address the challenges and opportunities presented by digital transformation, modern applications, and cloud computing.”
Sumo Logic sold 14 million shares at $22 apiece, and all the shares were sold by the company itself. Its indicated price range had been $17 to $21 per share ahead of the formal pricing. Prior to assuming