SaaS EngageSmart Moves Forward With IPO Plans

Customer engagement software-as-a-service firm EngageSmart is moving ahead with plans for an initial public offering (IPO) on the New York stock Exchange under the ticker symbol ESMT.

The Braintree, Massachusetts startup filed its S-1 registration with the U.S. Securities and Exchange Commission (SEC) but has not yet released the number of shares being proposed in its common stock offering.

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The lead book-running managers are J.P. Morgan, Goldman Sachs, BofA Securities and Citigroup. Deutsche Bank Securities, Raymond James, Trust Securities and William Blair will act as book-runners. KeyBanc Capital Markets, Needham & Company, Penserra Securities LLC, R. Seelaus & Co. and Roberts and Ryan will act as co-managers.

EngageSmart aims to simplify customer engagement across multiple industries by using cutting-edge solutions that combine innovative technology with “deep industry expertise.” The company said it’s on a mission is to deliver solutions “that revolutionize consumer engagement,” according to a Friday (Aug. 27) press release.

Also read: US SEC Mulls New Rules For Customer Engagement Tactics

The Boston area company provides “vertically-tailored customer engagement software and integrated payments solutions” and is striving to simplify the process so that its business clients can focus on what they do best, per the press release.

The startup offers solutions including SimplePractice, InvoiceCloud, HealthPay24, and DonorDrive, which align with the company’s mission to make it easier for clients to engage with their customers.

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EngageSmart now works with over 68,000 customers in the small and medium-sized business (SMB) space and has in excess of 3,000 firms in health and wellness, government, utilities, financial services, and giving, according to the release.