C3.ai, which provides SaaS applications for the deployment of enterprise AI applications, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
The company provides SaaS applications that enable the rapid deployment of enterprise-scale AI applications on Azure, AWS, the IBM Cloud, Google Cloud Platform, or on-premise. Its two primary families of software solutions include the C3 AI Suite, which is a comprehensive application development and runtime environment that is designed to allow its customers to design, develop, and deploy Enterprise AI applications of any type; and C3 AI Applications, which is built using the C3 AI Suite and includes a family of industry-specific and application-specific turnkey AI solutions.
The Redwood City, CA-based company was founded in 2009 and booked $162 million in revenue for the 12 months ended July 31, 2020. It plans to list on the NYSE under the symbol AI. C3.ai filed confidentially on September 18, 2020. Morgan Stanley, J.P. Morgan, BofA Securities and Deutsche Bank are the joint bookrunners on the deal. No pricing terms were disclosed.
