IVC identifies 24 Israeli tech cos ready for IPO

Nasdaq Photo: Reuters

IVC-Research says that the large amounts raised by the companies makes them ripe for a public offering.

Twenty four Israeli high-tech companies are ripe and ready to hold an IPO, based on the amount they raised in their latest financing round, IVC Research has found in an analysis of the IPO pipeline for 2017.

Top of the list is taxi hailing app Gett, which raised $300 million in 2016 from Volkswagen, bringing the total funds it has raised to $522 million. Second on the list is ridesharing startup Via Transportation, which raised $250 million earlier this year, much of it from Daimler, and has raised $387 million to date. In third place is software firm Skybox Security, which raised $150 million several months ago and has raised $296 million to date. In fourth place is cyber security company Cybereason, which raised $100 million earlier this year and has raised $188.6 million to date.

Also on the list are content recommendation companies Taboola and Outbrain, which have raised $182.4 million and $144 million respectively as well as video tech company Kaltura, which has raised $156.1 million and gig-market company Fiverr, which has raised $110 million. Car chip company Valens Semiconductor has raised $104 million including a $60 million financing round earlier this year. OrCam Technologies to help the blind read has only raised a modest $63 million but was founded by the same team that set up Mobileye. “IPOs are the jewel in the crown of exits,” IVC said in the report. "Eight Israeli companies went public at the first nine months of 2017. Only two, medical devices company UroGen Pharma, and Forescout listed in NASDAQ. Given that NASDAQ and the New York Stock Exchange (NYSE) are moody and expensive, Israeli companies are looking for new sources of liquidity, five Israeli companies went public on the Australian Stock Exchange (AXE), and three listed on the Tel Aviv Stock Exchange (TASE)."

The report concluded, "IPOs are the first stop in company’s new status, the performance in the public markets as a debutant share is crucial. It looks like 2017 is a good year in this aspect as well. TechCrunch found that most of the tech companies that have gone public in 2017 are trading above their IPO price."

Published by Globes [online], Israel business news - www.globes-online.com - on December 12, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

5 Comments
View comments in rows
Update by email about comments talkback
POST
Comments
Nasdaq Photo: Reuters
Nasdaq Photo: Reuters
Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018