Weave Communications, which provides a customer communication and engagement platform for SMBs, filed on Monday with the SEC to raise up to $100 million in an initial public offering.
Weave states that it is a leading all-in-one customer communications and engagement software platform for small and medium-sized businesses (SMBs), spanning all forms of communications and customer engagement including answering phones, scheduling appointments, and collecting payments, among others. The company's platform is currently used by over 130,000 monthly active users across a range of industries including dentistry, veterinary, and plumbing, among others. Weave requires each physical location of a customer to enter into a subscription to gain full access to its platform, which results in customers with multiple offices having multiple subscriptions. As of June 30, 2021, the company had more than 21,000 locations under subscription across approximately 20,000 customers in the US and Canada.
The Lehi, UT-based company was founded in 2008 and booked $99 million in revenue for the 12 months ended June 30, 2021. It plans to list on the NYSE under the symbol WEAV. Weave Communications filed confidentially on August 20, 2021. Goldman Sachs, BofA Securities, Citi, Piper Sandler, Raymond James, Stifel, and William Blair are the joint bookrunners on the deal. No pricing terms were disclosed.
