Beamr Imaging, an Israeli provider of video encoding and image optimization software, filed on Tuesday with the SEC to raise up to $35 million in an initial public offering.
Beamr states that it provides video encoding, transcoding, and optimization solutions that enable high quality, performance, and unmatched bitrate efficiency for video and images. The company currently licenses three core video and image compression products: a suite of video compression software encoder solutions; Beamr JPEGmini photo optimization software solutions; and hardware solution Beamr Silicon IP block. Beamr's customers include tier one over-the-top, content distributors, video streaming platforms, and Hollywood studios, with enterprise customers including Netflix, ViacomCBS, Microsoft, and Walmart.
The Herzeliya, Israel-based company was founded in 2009 and booked $3 million in revenue for the 12 months ended December 31, 2021. It plans to list under the symbol BMR, though it has not yet chosen an exchange. Beamr Imaging filed confidentially on December 22, 2021. ThinkEquity is the sole bookrunner on the deal. No pricing terms were disclosed.
