Toronto-based cloud real estate technology platform Real Matters Inc. has announced the closing of its initial public offering, along with the IPO’s raising of approximately $156.7 million for the company.
“The offering’s greenshoe option may generate an additional $23.5 million,” the announcement added.
Real Matters, which began trading last week on the Toronto Stock Exchange (under the symbol REAL), achieved a valuation in excess of $1 billion, according to venture capital firm Whitecap Venture Partners. Whitecap is one of the new company’s earliest investors.
“Whitecap Venture Partners congratulates the entire team at Real Matters (TSX:REAL) on its Initial Public Offering (IPO),” the capital firm stated. “Whitecap participated in eight financing rounds in Real Matters prior to the company’s IPO, beginning with a seed investment in 2007 when Real Matters had less than a million dollars in revenue.”
“It’s been two years since we’ve seen a Canadian technology IPO of this magnitude. This is just the beginning for Real Matters as Jason and his team continue their mission to build a world class technology company in Canada,” Whitecap partner Carey Diamond said.