SundaySky, an Israeli startup that offers a platform for video optimization at scale, is planning to hold an initial public offering IPO on the Tel Aviv Stock Exchange TASE. According to a report in Calcalist, SundaySky hopes to come away from the IPO with a $300 Million valuation. The details of the IPO have yet to be revealed.
The company has had $40 million in revenue over the past year and Calcalist says that SundaySky expects revenues to increase to $50 million in 2022. Its latest round of funding was a $37 million Series D completed in 2017.
Founded in 2007, SundaySky declares that it is transforming CX engagement for Fortune 500 B2C brands, enabling them to deliver video-powered experiences at critical moments along customer journeys that engage, educate and inspire consumers. CX engagement refers to customer experience, or how a business engages with its customers at every point of their buying journey. This applies from marketing to sales to customer service and at all steps in between.
“Our unparalleled Video Experience Platform powers billions of unique digital experiences annually for the world’s leading brands, including 1-800 Contacts, Bank of America, MetLife, Staples, UnitedHealthcare, Verizon, and many others. SundaySky equips brands to achieve breakthrough outcomes and quantifiable business value from increased revenue, reduced costs, lower churn, and higher customer satisfaction,” says the company.
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In November, SundaySky announced that it had experienced 400% customer growth in 2021.
“Our customers are seeing breakthrough results with our video platform,” said Jim Dicso, Chief Executive Officer for SundaySky at the time. “The challenge our customers are asking us to solve is to help them make video simple for their teams and scalable for their organizations. It’s not just about video creation, though. They want to use one video platform for keeping content up-to-date, making it 1:1 when and where data is available, and distributing seamlessly to all digital channels. SundaySky is positioned perfectly to help our customers with their desire to create more video today, but also to scale for the needs of tomorrow.”