Updated with opening price Thursday.

Yext Inc. went public today, seeing its shares pop about 26 percent from an initial offering price of $11 a share, already up from a previous price range of $8 to $10 a share.

The New York-based online business management software company raised about $115.5 million on the sale of 10.5 million shares, for a valuation of $940 million.

The positive reaction by investors is partly a function of the underwriters setting a price low enough to ensure a publicity-generating pop. But it also indicates a continuing hunger for initial public offerings after a historically low level of IPOs for more than a year.

Founded in 2006, Yext makes software to help businesses manage their digital presence. The company’s cloud-based Yext Knowledge Engine allows users to manage maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories and social networks, including Google, Apple, Facebook, Bing and Yahoo from one control panel. Complementary products Yext Listings, Pages and Reviews allow businesses to manage face-to-face and digital interactions to try to boost brand awareness, drive foot traffic and increase sales.

Yext reported that it grossed $89 million in revenues for the first nine months of 2016, though like many other companies going public lately, it lost money: $28 million.

Yext’s decision to go public follows in the footsteps of a number of tech companies that have tested the market after a slow 2016. According to PricewaterhouseCoopers, the U.S. tech IPO market declined to its lowest level in the decade in 2016, with only 16 public offerings for total proceeds of $1.8 billion, way under the $8.4 billion raised in 2015.

This year has seen the IPO of messaging app maker Snap Inc., which was expected to be a bellwether offering. But after an initial surge, its shares dropped below their initial price.

Enterprise software companies have fared better with investors. Application network platform provider MuleSoft Inc. was next out of the gates with a more successful IPO, followed by another positive offering from Alteryx Inc. Enterprise-focused identity management startup Okta Inc. was the most recent tech IPO, floating last Friday with a nearly 40 percent pop, a positive sign for Yext.

“Enterprise business-to-business companies are like doubles and triples” for investors, said Venky Ganesan, managing director of Menlo Ventures. “So when people can’t find a great consumer company, they go back to enterprise.”

Some venture capitalists think that a public stock market seen by many as fully valued has sent investors looking for better places for their money. “That tends to send investors looking to IPOs for growth,” said Bob Ackerman, managing director of Allegis Capital.

Moreover, if the Trump administration manages to win some tax “reform,” he said, that could encourage more IPOs. “There’s a strong pipeline of enterprise companies,” Ackerman said.

Yext has raised $117.8 million over seven rounds from investors including CrunchFund, Grape Arbor VC, Insight Venture Partners, Institutional Venture Partners, Sutter Hill Ventures, SV Angel, WGI Group and a number of individual investors. Morgan Stanley, J.P. Morgan and RBC Capital Markets are acting as the book runners for the offering, with Pacific Crest Securities and Piper Jaffray are acting as co-managers.

With reporting from Robert Hof

Image: Yext