Whispir Limited (ASX: WSP), a leading SaaS communications workflow platform that automates interactions between businesses and people, today commenced trading on the Australian Securities Exchange (ASX), following an oversubscribed Initial Public Offering (IPO) that raised $47 million via the issue of 29.4 million shares at $1.60 each. The IPO comprised a primary raise of $27 million and a secondary sell down by existing shareholders of $20 million.
At the IPO listing price Whispir has a market capitalisation of $163 million. Including pre-IPO investors, institutional investors now account for 57 percent of Whispir’s share register. The successful IPO, managed by Wilsons and Ord Minnett, places the company in a strong position to progress its technology development, increase sales and marketing activity as well as pursue new growth opportunities in Asia and North America.
Whispir’s industry-leading software platform enables governments and organisations to deliver actionable two-way interactions at scale using automated multi-channel communication workflows which allow organisations to manage, automate and optimise their communication processes without requiring specialised technical expertise.
The easy-to-use software platform significantly reduces development time with drag-and-drop templates and app-like mobile engagement so users can build customised two-way communications and actions based on certain events or ‘triggers’ to optimally engage with people everywhere.
The platform provides real time, data-driven insights from different sources to enhance decision making and increase critical responsiveness for customers. The multi-channel communication capabilities include text and voice messaging, email and social media channels. These provide personalised targeted experiences at scale to people in the channel and at time they want it.
Jeromy Wells CEO and Founder said: “The Whispir platform simplifies complex communications processes with automated workflows that require little to no coding. Using our platform, companies can ensure their stakeholders receive accurate, timely, useful and actionable information that accounts for their individual circumstances.
“Whispir’s platform integrates with pre-existing IT systems, which increases our value proposition to customers of all sizes, industries and regions. Our ASX listing today is a key step towards us harnessing these competitive advantages to increase our presence in growth markets globally.”
Customers range from small organisations that have adopted the platform for a low volume single use case to large government departments servicing millions of people.
Whispir’s platform processes more than 40 million application programming interface (API) calls per month. Common industries include banking and finance, insurance, transport and logistics, utilities, telecommunications, emergency services, education, healthcare and government. Customers include The Walt Disney Company; Virgin Australia Group; Foxtel; AGL; and AIA.
Whispir’s revenue is derived from recurring subscription licences, recurring transactional charges and support charges from its more than 500 enterprise customers in Australia, New Zealand, Asia and North America.
Total revenues in FY18 were A$27.8 million with the company forecasting in its Prospectus to increase FY20 revenues to $37.8 million and achieve sustainable breakeven operations in June 2020.
“Our success has been built on our ability to solve crucial communication challenges for our customers, demonstrated by our high customer retention rate. We are excited to be offering Australian investors the opportunity to invest in a local tech company with a global footprint and an aspirational attitude.”