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HR Tech Startup Seera Seeks $100m Valuation Ahead of ASX IPO
- Published May 10, 2016 10:32AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
3rd May 2016, AFR By Yolanda Redrup
The boom in Australian technology initial public offerings looks set to continue into 2017, with Seera, a cloud-based recruitment and staff management software company, poised to kick off a $10 million funding round ahead of an ASX listing.
The company, which was founded by former SEEK and Telstra executive Bradley Birchall in 2014, has taken on long-standing technology specialist investment firm Newport Capital to advise on its pre-IPO raising, with the funds earmarked for Seera’s Asia Pacific regional expansion plans. It intends to list on the ASX in 2017.
Its founder told The Australian Financial Review the company had mapped out an ambitious plan to use the ASX as a stepping stone to a $1 billion Nasdaq IPO by 2019.
ASX investors have warmly welcomed human resources technology listings from 1-Page and Reffind in recent times, only to begin selling out once concerns about immature revenue models began to kick in. Reffind’s shares have fallen more than 84 per cent in six months, and 1-Page shares, while still well above its October 2014 listing price, have fallen from a high of $5.69 last September, to sit at 97¢.
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