Seattle's First IPO in 2020 🎉
July 13, 2020
Accolade went public on July 2, and it was Seattle’s first IPO of the year! Geekwire wrote a great article on the IPO and interviewed Accolade’s CEO, Raj Singh.
Here are some highlights:
- This is Raj’s second ever job! His first was co-founder and COO at Concur ($8.3B sale to SAP in 2014)
- Accolade was founded in 2007, but Raj and two other Concur executives took over as CEO, CPO, and President in 2015
- Since 2015, the company has raised ~$140M of venture capital and grown revenue to ~$133M
- Their product helps employees at large companies better understand and utilize their health benefits, with the help of health assistants
- Their largest customers are companies like Comcast, American Airlines, Lowe’s, and State Farm, whose health plans have 1.7M+ members
- After filing their S-1 in February (on the same day as ZoomInfo), the entire IPO process was conducted remotely
Accolade is now trading under the ticker $ACCD, and the current market cap is ~$1.7B (up ~60% from the initial offering price). Congrats to the Accolade team on this incredible journey and a successful IPO!