Utah’s Podium raises pre-IPO round, boosting its valuation to $3 billion

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Forum came back Fundraising well done this year, adding $201 million to its accounts at a $3 billion valuation (post-money).

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The Utah-based company, which provides software services including communications and payment tools to SMBs, last raised $125 million at a valuation of about $1.5 billion. That deal was announced in April 2020.

Podium CEO Eric Ree told bloomberg That the company has “over $100 million in annual recurring revenue.” Nerdshala confirmed the metric with the company, though Podium declined to be more specific about its current ARR.

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podium first Reached $50 Million ARR Mark Around the time of its $60 million Series B in November 2018. And we know it climbed to $100 million ARR at the end of 2019. it questions how high The $100 million ARR mark podium is rather important today — we can’t effectively calculate the company’s growth rate without up-to-date figures.

Remember that Podium felt cheap during its last increment, given its revenue base and $1.5 billion price tag. The company declined to share growth targets for 2021 or answer our question whether it expects to match this year’s growth rate in 2022. Given that it has an ocean of new capital, we were curious about how bold its growth plans were for the coming year. Certainly money helps.

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The company also declined to share the timing of the IPO plan or notes on any notable changes in its economics. Podium just wanted to talk about its new fundraising and valuation today in addition to some very non-GAAP figures, such as how many “local businesses” use its service.

This is a dismay, given that Podium, earlier in its life, was a great example of a company that was most transparent when it came to sharing financial information.

Lack of tough financial results make Podium’s upcoming IPO – Bloomberg mention One investor in the company is saying it will “definitely” go public — and more curious. Given that we’re going to see the results for the podium’s current performance inside its final S-1 filing, why not tell us now? (In an email, Podium said of its IPO timing that it focused on “supporting as many local businesses as possible.”)

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