Israel-founded Kaltura said to be eyeing Nasdaq IPO in 2018
Video software startup is gearing up for IPO at a valuation of $1 billion, Calcalist reports
Shoshanna Solomon was The Times of Israel's Startups and Business reporter
Israel’s Kaltura, an Israel-founded video software startup, is gearing up for an initial public offering of shares on the Nasdaq at a valuation of $1 billion, the Calcalist financial website reported Wednesday without saying where it got the information.
The firm is in talks with foreign investment banks for the offering in the second or third quarter of 2018, the website reported. Goldman Sachs, which led a $50 million financing round in Kaltura in 2016, is expected to lead the planned IPO, Calcalist said.
The firm, founded in 2006 and headquartered in New York with an R&D center in Ramat Gan, Israel, provides organizations with turnkey solutions that allow them to immediately upload, deploy, serve, and publicize video content, either on the Internet or within an organization.
Kaltura’s technology is used by thousands of enterprises, media companies, service providers and educational institutions around the world, its website says, and is viewed by hundreds of millions of viewers. Customers include media giants like HBO, Warner Brothers, Paramount, Bank of America and Intel, and educational institutions such as Stanford and Columbia.
The company has raised some $166 million to date, with the latest $50 million round raised in August 2016, according to data compiled by Start-Up Nation Central, which tracks Israel’s tech industry. Besides Goldman, other investors include Intel Capital, Nokia Growth Partners, Silicon Valley Bank.
The firm employs some 450 people, and according to estimates has revenues of some $100 million-$150 million a year, Calcalist said.
Founders include Ron Yekutiel, Shay David, Eran Etam, and Michal Tsur.
A Kaltura spokeswoman declined to comment.
