PowerSchool valued at over $3 billion in NYSE debut as shares rise

Signage for PowerSchool (NYSE:PWSC) is seen ahead of their Initial public offering (IPO) at the New York Stock Exchange (NYSE) in New York City, New York, U.S., July 28, 2021. REUTERS/Andrew Kelly

(Reuters) -Shares of PowerSchool Holdings Inc rose 2.8% in their New York Stock Exchange debut on Wednesday, giving the cloud-based education software provider a valuation of about $3.57 billion.

PowerSchool's listing comes as school districts have steadily increased investment in cloud-based software solutions during the COVID-19 pandemic.