iCims, a US-based recruitment software developer backed by quantitative trading firm Susquehanna International Group (SIG), has filed for a $100m initial public offering on the Nasdaq Global Select Market.
Founded in 2000, iCims has built a cloud-based platform for managing the entire recruitment process. Its offering includes software products for attracting, engaging, hiring and retaining talent.
As of June 2021, the company has provided its services to 4,198 customers in more than 200 countries and territories globally including beverage distributor Keurig Dr Pepper, ride-hailing service provider Uber and IT services firm Wipro.
iCims’ revenue grew by 17.3% from $214m in the year ending December 2019 to $251m the following year. The company also reported a $48m loss for 2020, down from $59m in 2019.
Investment firm Vista Equity Partners is iCims’ majority stakeholder while SIG also holds more than 5% – though precise figures were not disclosed in the draft prospectus.
The company received an investment of undisclosed size from Vista Equity Partners in 2018. A regulatory filing from that year shows the company raised more than $853m of funding from undisclosed investors.
Susquehanna Growth Equity, a private equity unit for SIG, supplied $35m to iCims in exchange for a minority stake in 2011.
The underwriters for the offering are Morgan Stanley, JP Morgan, Citigroup, Barclays, Credit Suisse, Baird, Needham & Company, Oppenheimer & Co, Stifel, Guzman & Company, Loop Capital Markets, Roberts & Ryan, R. Seelaus & Co and Tribal Capital Markets.