Carbonite completes IPO

Carbonite, a provider of Web-based computer backup products, closed its initial public offering ($10.00 per share).

BofA Merrill Lynch and J.P. Morgan Securities LLC acted as joint book-running managers for the offering. William Blair & company, LLC, Canaccord Genuity Inc., Oppenheimer & Co. Inc. and Pacific Crest Securities Inc. acted as co-managers.

Carbonite is a portfolio company off Institutional Venture Partners XIII fund (IVP XIII).