Seeking Alpha

Cloud healthcare software firm Castlight ups IPO range

  • Castlight Health (CSLT) has hiked the price range for its 11.1M-share IPO to $13-$15 from a prior $9-$11. The company is now looking to raise $144M-$165M, and sport an IPO valuation of $981M-$1.13B.
  • Castlight's software allows the employees of its 106 customers to access and manage their healthcare info. The company had 2013 revenue of just $13M (up over 3x Y/Y), a net loss of $62.2M, and a year-end deferred revenue balance of $11.5M. Sales/marketing spend totaled $33.7M, and R&D spend $15.2M..
  • Prospectus
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