Israeli startup Cellebrite, a digital intelligence solutions provider, is set to hold its NASDAQ IPO today, Tuesday. The company will be listed soon be listed as CLBT and expects to come away with a $2.4 Billion. The IPO comes four months after Cellebrite merged with the SPAC TWC Tech Holdings. That transaction received final approval during a special meeting of TWC Tech Holdings stockholders held on August 27, 2021.
The transaction generated approximately $370 million of gross proceeds from the cash held in trust after TWC Tech Holdings stockholder redemptions and the private investment in public equity (PIPE) for the purchase of shares from existing shareholders of Cellebrite who are primarily from early investors in the company.
Cellebrite develops tech that allows law enforcement agencies, among others, to decrypt or hack into smart phones. Cellebrite says that it enables investigators to capture insights in today’s complex, digital world. The company boasts that its digital intelligence platform provides a “complete and objective picture of evidence, empowering agencies and investigators to solve and close cases faster than ever.”
The company declares that its mission is to enable its customers to protect and save lives, accelerate justice and preserve privacy in communities around the world. Cellebrite’s management team will continue to operate the business with Yossi Carmil serving as Chief Executive Officer.
Cellebrite Generated Revenues of Approximately $195 Million and Gross Margins of Approximately 80% in Fiscal 2020 and Projects Revenues of Approximately $283 Million and Gross Margins of Approximately 81% in Fiscal 2022.
Yossi Carmil, Chief Executive Officer of Cellebrite, noted, “We have achieved an important milestone that advances our strategy to drive value to the investigative lifecycle. We are energized by the significant opportunities to build on our industry-leading position, expand our capabilities and continue to deliver valuable solutions to our broad and growing customer base. I would like to thank True Wind Capital for their support and partnership throughout this process. As a publicly traded company, we believe we are well positioned to help to create a safer world with our Digital Intelligence solutions suite, through the ethical use of our solutions, and to deliver sustainable value for all of our stakeholders.”