June 2021 will be remembered as one of the busiest months ever for Israeli companies raising money on Wall Street, with IPOs and the completion of SPAC mergers by companies worth more than $37 billion.
The month began with work operating system company monday.com (Nasdaq: MNDY) raising over $700 million (including underwriters options and a $150 million private placement from Zoom and Salesforce), at a company valuation of $6.8 billion. By the end of the month monday.com was worth nearly $10 billion.
But if monday.com was one of the biggest-ever IPOs by an Israeli company on Wall Street, the month ended with an even bigger IPO as cybersecurity company SentinelOne (NYSE: S) raised more than $1.2 billion at a company valuation of nearly $9 billion. With its share price rising 21% on its first day of trading on the NYSE, SentinelOne ended the month with a valuation of $10.77 billion.
June culminated with the completion of three SPAC mergers by Israeli companies, which began trading on Wall Street. Game and app developer platform ironSource completed its merger with Thoma Bravo Advantage and began trading on the NYSE at a company valuation of $11.1 billion, digital payments company Payoneer Global completed its merger with FTAC Olympus Acquisition Corp. and began trading on Nasdaq at a company valuation of $3.3 billion, and content recommendation company Taboola completed its merger with ION Acquisition corporation and began trading on Nasdaq at a valuation of $2.6 billion.
Earlier in the month, Israeli digital adoption SaaS company WalkMe (Nasdaq: WKME) raised $287 million at a company valuation of $2.6 billion and ad-tech company Tremor International (Nasdaq: TRMR; LSE: TRMR) raised $150 million at a valuation of $1.7 billion.
Published by Globes, Israel business news - en.globes.co.il - on July 1, 2021
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