US-based online video software provider Kaltura is planning an initial public offering in 2018 that will provide exits for corporates Intel, Mitsui and Nokia, Calcalist reported yesterday.
Kaltura’s software powers online video platforms in areas such as over-the-top media, education and enterprise software. It is in talks with prospective underwriters and is preparing to launch its IPO in the second or third quarter of 2018, according to people familiar with the matter.
The offering will come after $145m in funding, including $50m from investment banking firm Goldman Sachs’ Private Capital Investing unit in an August 2016 deal that valued Kaltura at $500m according to Calcalist.
Semiconductor technology producer Intel initially invested in Kaltura in 2011 through its Intel Capital subsidiary, backing a $20m series C round together with Nexus Venture Partners, Silicon Valley Bank, .406 Ventures and Avalon Ventures.
Mitsui & Co Global Investment and Orix Ventures, respective investment vehicles for conglomerate Mitsui and financial services provider Orix, joined Kaltura’s series C investors for the company’s $25m series D round in 2012.
Sapphire Ventures, then still known as SAP Ventures, led Kaltura’s $47m series E round two years later, investing alongside communications equipment maker Nokia’s Nokia Growth Partners unit, Mitsui & Co Global Investment, Intel Capital, SVB, Nexus, .406, Commonfund Capital and Gera Ventures.