Zenvia, which provides a customer experience communications platform in Latin America, announced terms for its IPO on Wednesday.
The São Paulo, Brazil-based company plans to raise $213 million by offering 12.9 million shares at a price range of $15.50 to $17.50. At the midpoint of the proposed range, Zenvia would command a market value of $607 million.
Zenvia's customer experience (CX) communications platform provides a combination of solutions focused on campaigns, sales teams, customer service, and engagement; tools, such as software APIs, chatbots, single customer view, journey designer, documents composer and authentication; and channels, such as SMS, Voice, WhatsApp and Webchat. The company's software platform facilitated the flow of communication for more than 9,400 customers throughout Latin America as of December 31, 2020, and the company achieved a standalone net revenue expansion rate of 113%.
Zenvia was founded in 2004 and booked $79 million in sales for the 12 months ended December 31, 2020. It plans to list on the Nasdaq under the symbol ZENV. Goldman Sachs, Morgan Stanley, Bradesco BBI, Itau BBA, UBS Investment Bank and XP Investimentos are the joint bookrunners on the deal. It is expected to price during the week of May 10, 2021.
