The IPOX® Watch: Intapp Inc
COMPANY DESCRIPTION
Founded in 2012 as LegalApp, Intapp, Inc is a Software as a Service ("SaaS") company, headquartered in Palo Alto, CA. Intapp develops cloud-based software solutions specifically for the professional and financial services industry. The company offers a comprehensive client relationship management (CRM) and client engagement solutions platform primarily for private capital, investment banking, legal, accounting, and consulting firms.
BUSINESS MODEL
Intapp generates revenue from the sale of its software subscription. The company also generates revenue from professional services such as software implementation, configuration, and upgrade services.
IPO HISTORY
On 06/30/2021, Intapp Inc began trading on the Nasdaq Global Select led by J.P. Morgan. The industry-specific cloud-based software company offered 10.5 million shares, at $26.00 per share, above its low-end expected price range ($25-$28). Intapp was valued at ca. $1.57 billion at offer with the 15% over-allotment option fully exercised. The shares opened down at $25.25 but closed the first day higher at $28.00 (+7.69%).
Entities affiliated with Singapore state-owned Temasek and Great Hill Partners continued to hold over 60% of Intapp post offering.
Intapp Inc was included in the IPOX® 100 U.S. Index (ETF: FPX US, FPX LN) on 03/20/2023 and has gained +10.52% since addition to the index.
