October 28, 2019 / 2:35 PM / 7 months ago

UPDATE 1-Israel's JFrog mulls Nasdaq IPO at $1.5 bln valuation -report

(Adds Insight Partners declines to comment)

TEL AVIV, Oct 28 (Reuters) - Israeli software provider JFrog is considering going public on Nasdaq next year at a company valuation of $1.5 billion, TheMarker financial newspaper reported on Monday.

TheMarker cited unnamed sources as saying that executives at JFrog have started meeting with investment bankers in New York to choose an underwriter.

Founded in 2008, the company develops tools for automating the process of building and maintaining apps. It has more than 4,500 customers including Amazon, Facebook, Google and Netflix.

JFrog raised $165 million a year ago in a funding round led by New York-based Insight Partners. At the time the company said it was valued at over $1 billion.

A spokeswoman for JFrog said the company does not comment on speculation. An Insight spokesperson also said the company could not comment on speculation. (Reporting by Tova Cohen, Editing by Ari Rabinovitch/Steven Scheer)

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