SEMrush Holdings, which provides a SaaS platform for managing digital marketing, announced terms for its IPO on Tuesday.
The Boston, MA-based company plans to raise $252 million by offering 16.8 million shares (11% insider) at a price range of $14 to $16. At the midpoint of the proposed range, SEMrush Holdings would command a fully diluted market value of $2.2 billion.
SEMrush states that it is a leading online visibility management software-as-a-service platform, enabling companies to identify and reach the right audience for their content, in the right context, and through the right channels.
SEMrush Holdings was founded in 2008 and booked $125 million in revenue for the 12 months ended December 31, 2020. It plans to list on the NYSE under the symbol SEMR. Goldman Sachs, J.P. Morgan, Jefferies and KeyBanc Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of March 22, 2021.
