Veritone (VERI) Plans to Raise $20 Million in May 8th IPO

Veritone (VERI) plans to raise $20 million in an initial public offering on the week of May 8th. The company will be issuing 1,300,000 shares at $14.00-$16.00 per share.

In the last twelve months, Veritone generated $8.9 million in revenue and had a net loss of $30.2 million. The company has a market cap of $189.5 million.

Wunderlich and Craig-Hallum Capital Group served as the underwriters for the IPO and Northland Capital Markets was co-manager.

Veritone provided the following description of their company for its IPO: “Veritone has developed a proprietary artificial intelligence platform that unlocks the power of cognitive computing to transform unstructured audio and video data and analyze it in conjunction with structured data in a seamless, automated manner to generate actionable intelligence. Our cloud-based open platform integrates and orchestrates an ecosystem of best-of-breed cognitive engines in a wide range of classes to reveal valuable multivariate insights from vast amounts of audio, video and structured data. “.

Veritone was founded in 2014 and has 110 employees. The company is located at 3366 Via Lido, Newport Beach, CA 92663, US and can be reached via phone at (888) 507-1737 or on the web at https://www.veritone.com.

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