EngageSmart, which provides SaaS solutions for invoicing, payments, and health practice management, raised $378 million by offering 14.6 million shares (11% secondary) at $26, above the range of $23 to $25.
EngageSmart provides single instance, multi-tenant, SaaS customer engagement software and integrated payments solutions across five core verticals: Health & Wellness, Government, Utilities, Financial Services, and Giving. Its solutions are purpose-built for each vertical, simplifying and automating processes such as scheduling, client onboarding, client communication, paperless billing, and electronic payment processing. EngageSmart served 68,000 SMB customers and 3,000 enterprise customers as of June 30, 2021, and estimates over 26 million consumers interacted with its platform in 2020.
EngageSmart plans to list on the NYSE under the symbol ESMT. J.P. Morgan, Goldman Sachs, BofA Securities, Citi, Deutsche Bank, Raymond James, Truist Securities, and William Blair acted as joint bookrunners on the deal.
