Israeli marketing tech company Gefen lodges $127m IPO

Israeli insurance marketing tech business Gefen Technologies is headed for the ASX, raising $25 million at a market capitalisation of $127 million.

The business, which was founded in 2014 by former lawyer David Nash, IT systems architect Elad Daniel and former deputy squadron commander for the Israeli Air Force Orni Daniel, allows insurance behemoths like Australia’s TAL to communicate with smaller, local insurance brokers that are selling their products in an automated way.

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This allows the giants to reach more customers, while the smaller brokers receive automated multi-channel campaigns that are assured to be compliant with local regulations, customer conversion statistics and other data analysis.

Speaking to The Australian Financial Review, Orni Daniel said the company wanted to list in the Asia Pacific region because, while it was an Israeli business, it was going after south-east Asia as its major target market.

He said the company settled on the ASX as the best exchange on which to float because of its increasing focus on technology.

Click here to read the full article on the Financial Review.

About Gefen Technologies

Gefen Technologies (ASX (pending): GFN) (‘Gefen’ or ‘the Company’) is the world’s first platform provider that transforms agent-based networks into digital sales fleets.

Gefen’s platform enables the fast transformation of existing agent networks at a large scale, empowering agents and the brands they represent to thrive in today’s digital-first world. It is the only solution that enables the digital distribution of business strategy, tactics and processes through agents all the way to the last mile – the end customer.

The Company is seeking to raise $25 million at $1 per share for a market cap of ~$127 million at IPO

Company highlights for your consideration:

  • Gefen has an award-winning proprietary software platform that empowers global enterprises to deliver consistent and compliant messaging and tools to their agents and ultimately, end customers.  At the same time enabling agents individualised branding and digital distribution to enhance and increase their business.
  • Approx. $16.4m revenue (CY 2020) 264% CAGR
  • 31 Contracted customers (carriers) including Generali, TAL, Manulife with >15,000 contracted agents.  Existing carriers employ >300,000 agents in total
  • 81% Gross Margin
  • ~ 6 x Revenue to EV multiple
  • $6.5m in seed raised over the past 12 months from Regal Funds Management, Ellerston Capital, L1 Capital global fund, PAC Capital, Perennial and others
  • Exceptional cornerstone institutional investor support for the IPO

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