Video cloud provider Kaltura has officially launched on the Nasdaq Global Select Market, and plans to raise $150 million with an estimated market capitalisation of $1.3 billion.
The launch follows months of speculation, with the company originally announcing plans to go public in March.
Kaltura’s 2020 revenue was approximately $120 million, with revenue growth steadily accelerating, achieving 46 per cent YoY growth in the first quarter of 2021.
It said the accelerated growth has been fuelled by strong and improving unit economics: the company’s Customer Lifetime Value to Customer Acquisition Cost ratio (LTV:CAC) grew from 5X in 2018, to 7X in 2019, and to 11X in 2020 and Q1 2021.
The company’s estimated total addressable market is $55 billion.
Kaltura said its offering is one of the largest IPOs in the video technology sector this year.