Utah podium boosts pre-IPO round, raising its valuation to $ 3 billion – TechCrunch

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Podium is back to this year’s fundraiser, adding $ 201 million to his accounts with a valuation of $ 3 billion (post-money).

The Utah-based company that provides software services including communications and payment instruments to SMEs, it last raised $ 125 million with a valuation of approximately $ 1.5 billion. What? announced to April 2020.

Podium CEO Eric Rea told Bloomberg that the company has “well over $ 100 million in annual recurring revenue.” TechCrunch confirmed the metric with the company, although Podium declined to be more specific regarding its current ARR.

Podium earlier reached the ARR $ 50 million mark around the time of its $ 60 million Series B in November 2018. And we know that rose to ARR $ 100 million towards the end of 2019. This makes the question of the above? The podium of the $ 100 million ARR brand is pretty important today – we can’t effectively calculate the company’s growth rate without an updated figure.

Recall that Podium felt cheap during its latest hike, given its revenue base and $ 1.5 billion price tag. The company declined to share a growth target for 2021 or to answer our question of whether it hopes to match this year’s growth rate in 2022. Since it has an ocean of new capital, we were curious how bold they were. its growth plans for next year. Money certainly helps.

The company also declined to share the timing of the IPO plan or notes on any significant changes in its economy. Podium just wants to talk about its new fundraising and valuation today, aside from some very non-GAAP figures like how many “local businesses” are using its service.

That’s a shame, as Podium, early in its life, was a great example of a company that was more transparent than most when it came to sharing financial information.

The lack of difficult financial results makes the upcoming IPO of Podium – Bloomberg quotes an investor in the company who says it will “definitely” go public – all the more curious. Since we’ll see results for Podium’s current performance within its eventual S-1 repository, why not tell us now? (In an email, Podium said about the timing of the IPO that it focuses on “supporting as many local businesses as possible.”)

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