Advanced Human Imaging, which provides software used to measure human body dimensions using a smartphone, filed on Thursday with the SEC to raise up to $24 million in an initial public offering. The company currently trades on the Australian Securities Exchange with a market cap of about $130 million.
Advanced Human Imaging provides a proprietary measurement and dimensioning technology that enables a smartphone user to assess and track their body dimensions. It sells its physical measurement and analytics tool, BodyScan, as a software development kit that can be embedded within software programs and apps. The company's customers include businesses in telehealth, wellness, life and health insurance, fitness, and consumer and apparel.
The South Perth, Australia-based company was founded in 2014 and booked $1 million in sales for the 12 months ended December 31, 2020. It plans to list on the Nasdaq under the symbol AHI. Advanced Human Imaging filed confidentially on August 7, 2021. Maxim Group LLC is the sole bookrunner on the deal. No pricing terms were disclosed.
