Today (Tuesday), Israeli company Kaltura filed a S-1 registration statement prior to an initial public offering planned on New York’s NASDAQ. The prospectus highlights a few interesting figures regarding the company’s status, just before joining the wave of fellow Israeli companies going public. The planned IPO is estimated to net $100 million for the company, based on a $1 billion valuation.

$120 million in revenues

Kaltura was founded in 2006 by CEO Ron Yekutiel, Dr. Shay David, Dr. Michal Tsur, and Eran Etam. The company develops a cloud video platform for managing, creating, and sharing video content. The platform is used by customers to increase revenue from ads, while sharing content, and enhancing communities, in addition, to reducing video streaming costs. Kaltura’s comprehensive system enables customers to incorporate video content on their websites, as well as pushing content on other channels, stats analysis, and other crucial tools for knowledge distributors in the organization. The system provides solutions and adapts to a variety of platforms. Among Kaltura’s customers are some very popular brands, including HBO, Warner Bros, and SAP - which invested in the company.

Double digit growth

According to the prospectus, 2020 brought on accelerated growth for Kaltura. The company reported double digit growth per quarter, with the height coming in Q4 2020 during which revenue increased by 30% year-over-year - racing a total of $35 million. Kaltura closed 2019 with $97 million in revenues, but in 2020 the company saw revenues climb to an impressive $120 million. The report also highlighted that from the company’s 1,000 customers, 25 are listed on the Fortune 100, and over 50% of them come from the education sector, including 7 out of the 8 Ivy League schools.

The company reported losses of $15.6 and $38.7 million during 2019 and 2020 respectively, though also reported positive $4 and $4.3 million EBITDA in both years. Furthermore, Kaltura reported operational losses of $2.7 million in 2019, which grew to $8.1 million in 2020. True to the end of 2020, the company employs 584 people across 22 countries, with more than half based in Israel.

Despite global COVID crisis, 2020 will be remembered as a successful year for Israeli high-tech with 19 startups going public, led by JFrog and Lemonade. So far, 2021 doesn’t seem to be any different, while this year startups have chosen the SPAC route to public market capital.