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Business communication platform Intermedia Cloud Communications files for a $100 million IPO

February 26, 2021

Intermedia Cloud Communications, which provides a cloud-based communication platform for businesses, filed on Friday with the SEC to raise up to $100 million in an initial public offering.

The company provides a proprietary cloud-based communications and collaboration platform, purpose-built for a network of more than 7,000 channel partners and used by a growing base of over 122,000 business customers. Through the platform, Intermedia's partners provide their customers a portfolio of enterprise-grade, integrated Unified Communications-as-a-Service solutions, including the company's flagship product Intermedia Unite®, as well as a suite of Business Cloud Applications that includes cloud-based email, security, and productivity applications.

The Sunnyvale, CA-based company was founded in 1993 and booked $252 million in sales for the 12 months ended December 31, 2020. It plans to list on the Nasdaq under the symbol INTM. Intermedia Cloud Communications filed confidentially on December 17, 2020. Morgan Stanley, J.P. Morgan, Credit Suisse, Evercore ISI and Jefferies are the joint bookrunners on the deal. No pricing terms were disclosed.