Docebo, which provides a cloud-based SaaS platform for professional training, filed on Tuesday with the SEC to raise up to $125 million in an initial public offering.
The Toronto, Canada-based company plans to raise $125 million by offering 2.4 million shares at $52.21, the as-converted last close of its shares on the TSX (DCBO). At the proposed price, Docebo would command a market value of $1.6 billion.
Docebo provides an easy-to-use, highly configurable and affordable learning platform with the end-to-end capabilities and functionality needed to train both internal and external workforces, partners, and customers. Docebo sells its products in approximately 69 countries, reaching over 2,000 companies and 9.5 million registered learners. Its customers come from various industries and include companies such as Thomson Reuters, Pearson, Amazon Web Services, Experian, L'Oréal, and Heineken.
Docebo was founded in 2005 and booked $56 million in revenue for the 12 months ended September 30, 2020. It plans to list on the Nasdaq under the symbol DCBO. Morgan Stanley, Goldman Sachs and Canaccord Genuity are the joint bookrunners on the deal. It is expected to price during the week of November 30, 2020.
