IPO Terms
Company: C3.ai
Proposed Symbol: TBD
Exchange: NYSE
Expected IPO Date: 12/9/20
CEO: Thomas Siebel
# of Employees: 482
Offer Amount: $606M
Proposed Share Range: $31-$34
Shares Offered: 15.5M
Estimated Market Cap: $3.6B
Company Overview
“C3.ai is an Enterprise AI software company. We provide software-as-a-service, or SaaS, applications that enable the rapid deployment of enterprise-scale AI applications of extraordinary scale and complexity that offer significant social and economic benefit.”
Lead Underwriter(s): Morgan Stanley, J.P. Morgan
VC/PE Investors: Blackrock, Interwest Partners, TGP
Past Financial Data
Revenue
Year ended April 30, 2019: $91M
Year ended April 30, 2020: $156M
Net Loss
Year ended April 30, 2019: $33M
Year ended April 30, 2020: $69M
Funding Rounds
Series D: $97M (Aug. 2016)
Series E: $11.8M (March 2018)
Series F: $105.9M (March 2018)
Total Funding to Date: $278.6M
Notes
- SaaS business model
- Founded in 2009
- Leading company in AI development
- Two primary software solutions:
1. C3.ai suite = core tech product
2. C3.ai software applications = prebuilt, industry-specific applications - Deployable on Azure, Amazon Web services (AWS), IBM Cloud, or Google Cloud platform