Limeade CEO Henry Albrecht speaks at GeekWire Startup Day in 2016. (GeekWire Photo / Kevin Lisota)
Limeade, the Bellevue, Wash.-based human resources technology company, is set to raise $100 million in an initial public offering on the Australian stock market.
Terms of the upcoming IPO put Limeade’s total enterprise value at $454 million, or 5.5 times projected 2020 revenue, according to The Australian Financial Review. The company has raised $34 million in funding as a privately held startup.
Founded in 2006 by tech veteran Henry Albrecht, who remains the company’s CEO, Limeade provides employers with tools for measuring and improving employee wellness and engagement, and overall corporate culture.
The company is currently #31 on the GeekWire 200 index of the Pacific Northwest’s top privately held tech startups.
“Work is broken,” Albrecht told GeekWire last year, explaining the challenge the company is addressing. “Employees are disengaged, isolated and exhausted and don’t feel a sense of purpose or support from their company. HR tools create siloed, demoralizing experiences and remote populations aren’t seeing communications, much less participating.”
Limeade last year acquired Sitrion, a Denver company whose employee engagement app ONE has become a key part of Limeade’s offering.
As of Friday morning, …read more