Australian SaaS communications platform Whispir has listed on the Australian Stock Exchange, almost two decades after it was first established, as part of a $47 million IPO.
The oversubscribed initial public offering (IPO) saw 29.4 million shares in the business sold at $1.60 each, valuing Whispir at $163 million.
In a statement to the ASX, Melbourne-headquartered Whispir said the listing “places the company in a strong position to progress its technology development, increase sales and marketing activity as well as pursue new growth opportunities in Asia and North America”.
“Many organisations seek to solve complex technical, operational and people-centric communication challenges to effectively engage with stakeholders across many touchpoints,” the company’s CEO and founder, Jeromy Wells, said.
“We understand these challenges and have a clear vision for what is possible with our technology in a large and expanding global market.
“We believe that when organisations engage with people effectively, value is created.”
Mr Wells said that his platform is designed to simplify “complex communications processes with automated workflows that require little to no coding”.
“Our success has been built on our ability to solve crucial communication challenges for our customers, demonstrated by our high customer retention rate. We are excited to be offering Australian investors the opportunity to invest in a local tech company with a global footprint and an aspirational attitude,” he said.
Whispir was founded in 2002 and now boasts a number of high-profile companies among its customer base, including The Walt Disney Company, AGL, Virgin Australia Group and Foxtel, as well as a number of government departments and organisations.
According to the statement, the company’s revenue last financial year was $27.8 million. The prospectus is forecasting revenues of $37.8 million for the current financial year, with Whispir expected to “achieve sustainable break-even operations in June 2020”.
As of the end of 2018, the company has 127 employees working across eight cities worldwide. In addition to its Melbourne headquarters, Whispir also has offices in Singapore and the US city of Seattle.
Adam Zuchetti is the editor of My Business, and has steered the publication’s editorial direction since early 2016.