Seattle tech IPO: Limeade debuts on Australian stock exchange, raising $68M at $335M valuation

Australian stock exchange
Australian stock exchange

After almost 10 years Limeade just made its first public stock made available, but their executives have decided that they won’t be in pans of opening the bell on Wall Street. Limeade, an employee experience software company based in the Seattle area, is now publicly traded on the Australian stock market, raising more than $68 million in an IPO that puts its market value at $335 million.

As part of its IPO brochure, Limeade also opens full financial results openly for the first time. The company, which has 230 employees, is projecting $47 million in revenue this year, and a net loss of $6.2 million. It has the revenue to exceed $56 million next year, with its net loss grew to more than $12 million.

The tools will be targeted primarily to companies with more than 5,000 employees, but it also helps smaller companies through partners.

They have actively marketed as a main source of capital to companies of our size, technology bent and growth profile, Albrecht said in a meeting this week. They have made them fully available to us, and in seeking all of our financing options, there’s just a lot to love about our friends down under.

The company plans to put proceeds from the IPO toward sales and marketing and R&D to fuel new growth, in addition to paying off debt.

Customers include an unnamed Top 5 global tech company, and two of the top five global airlines, in addition to organizations such as Keurig, Enterprise Holdings and Kindred Healthcare.