HeartCore Enterprises, which provides customer experience management and digital transformation software, filed on Monday with the SEC to raise up to $15 million in an initial public offering.
The Tokyo, Japan-based company plans to raise $15 million by offering 2.5 million shares at a price range of $5 to $7. At the midpoint of the proposed range, HeartCore Enterprises would command a fully diluted market value of $115 million.
HeartCore provides software through two business units: customer experience management and digital transformation. Its customer experience management platform (the "CXM Platform") includes marketing, sales, service, and content management systems. Through its digital transformation business, the company provides customers with robotics process automation, process mining, and task mining to accelerate the digital transformation of enterprises. As of September 30, 2021, HeartCore's combined business units had 819 total customers in Japan, including 561 paying customers, and 23 total customers outside Japan, including one paying customer.
HeartCore Enterprises was founded in 2009 and booked $11 million in revenue for the 12 months ended September 30, 2021. It plans to list on the Nasdaq under the symbol HTCR. Boustead Securities is the sole bookrunner on the deal.
