Video software company Kaltura readies IPO targeting a $2.2 billion valuation

Kaltura

  • Kaltura is looking to raise $353 million from its NASDAQ IPO.
  • The video software provider could end up with a fully diluted market value of $2.2 billion.
  • Kaltura is offering 23.5 million shares between $14 and $16 per share to investors.
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The video software company Kaltura readied its initial public offering on Tuesday, targeting a $2.2 billion fully diluted market value.

The company expects to raise $353 million by offering 23.5 million shares at a range of $14-$16.

26%, or 6.1 million of those shares, will be offered by insiders, according to the firm's S-1 Prospectus. Underwriters may exercise their option to purchase up to an additional 3.53 million shares as well.

Goldman Sachs, BofA Securities, Wells Fargo Securities, and Deutsche Bank are the joint bookrunners on the deal which is expected to be priced sometime next week. Kaltura will trade on the Nasdaq under the symbol "KLTR."

Kaltura was founded in 2006 by current CEO Ron Yekutiel, along with Shay David and Michal Tsur. The company's stated goal is to "power any video experience, for any organization."

In 2020, Kaltura posted $120.4 million in revenue, up 23% year-over-year. However, the New York, New York-based video software firm also saw a net loss of $58.7 million on the year.

Kaltura boasts more than 15 million authenticated users across all its products and solutions. From hosting meetings, webinars, and townhalls, to the company's lecture capture technology, Kaltura has a foot in every aspect of the video software industry.

The company is attempting to take advantage of the growth of the online video platform market which, according to data from Research and Markets, is expected to hit a compound annual growth rate (CAGR) of 16% over the next five years.

Kaltura received $166 million in funding over seven seed rounds as a startup including investments from the likes of Goldman Sachs and Intel Capital, according to data from Crunchbase.

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