Shares in family tracking app company Life360 surged 10.9 per cent on their first day of trading in a result that may bolster the pursuit of foreign technology companies to list on the ASX.

The float of the $689 million San Francisco-founded company had been touted as a test of investor appetite for both early-stage technology companies, as well as initial public offerings in general. The float was the ASX's biggest tech raising since WiseTech Global's 2016 float and also came in a year where the pool of IPO candidates was expected to be shallow.