Kaltura, which provides live and on-demand video SaaS solutions, announced terms for its IPO on Tuesday.
The New York, NY-based company plans to raise $353 million by offering 23.5 million shares (26% insider) at a price range of $14 to $16. At the midpoint of the proposed range, Kaltura would command a fully diluted market value of $2.2 billion.
Kaltura's Video Experience Cloud offers live, real-time, and on-demand video products including Video Portal, Town Halls, Video Messaging, Webinars, Virtual Events, and Meetings. It also offers specialized industry solutions, including Learning Management System Video, Lecture Capture, and Virtual Classroom for educational institutions, as well as a TV Solution for media and telecom companies. In 2020, more than 15 million authenticated users interacted with its products and solutions, and at year end, the company had approximately 1,000 customers, including 25 of the Fortune 100 and more than 50% of US R1 educational institutions.
Kaltura was founded in 2006 and booked $120 million in sales for the 12 months ended December 31, 2020. It plans to list on the Nasdaq under the symbol KLTR. Goldman Sachs, BofA Securities, Wells Fargo Securities and Deutsche Bank are the joint bookrunners on the deal. It is expected to price during the week of March 29, 2021.
