Intapp, which provides application software for professional and financial services., announced terms for its IPO on Monday.
The Palo Alto, CA-based company plans to raise $278 million by offering 10.5 million shares at a price range of $25 to $28. Insiders intend to purchase $60 million worth of shares in the offering (22% of the deal). At the midpoint of the proposed range, Intapp would command a fully diluted market value of $1.9 billion.
Intapp provides industry-specific, cloud-based software solutions for the professional and financial services industry globally. The company had over 1,600 clients as of March 31, 2021, and it currently has more than 20 clients with contracts greater than $1 million of ARR. Its client base includes 96 of the Am Law 100 law firms, 7 of the Top 8 accounting firms, and over 900 private capital and investment banking firms. Intapp sells its software on a subscription basis through a direct enterprise sales model.
Intapp was founded in 2000 and booked $201 million in revenue for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol INTA. J.P. Morgan, BofA Securities, Credit Suisse, Piper Sandler, and Raymond James are the joint bookrunners on the deal. It is expected to price during the week of June 28, 2021.
