IPO details
Company intro
Intapp provides cloud-based software solutions to investment banking, legal, accounting and consulting firms to help them meet the needs of their clients and investors along with regulatory requirements. The Intapp Platform helps firms increase the returns on their investments and better manage their risk and compliance.
Intapp offers two solutions on its platform – DealCloud and OnePlace. DealCloud helps financial services companies manage their clients and investments to achieve better win rates and drive greater returns. OnePlace helps professional services firms with client strategy and business development.
Intapp was founded in 2012 and had 754 employees. The company sells its software on a subscription basis through a direct enterprise sales model and as of the end of March, it had over 1,600 clients.
Financials
Intapp generated total revenues of nearly $187 million in 2020, up 30% from 2019. Annual recurring revenue (ARR) increased 20% year-over-year to $172.6 million in 2020. Cloud ARR increased 57% to $74.1 million. Net loss increased to nearly $46 million in 2020 from $17 million in 2019 as the company continues to invest in the development of new products as well as the expansion of its operations both domestically and internationally.
Last month, Intapp acquired Repstor, which builds Microsoft 365-based enterprise content management and team collaboration tools, for an undisclosed amount.
Market opportunity
Intapp believes there is significant opportunity within the professional and financial services market as there is a rising demand for industry-specific cloud-based software solutions that address the specialized technology needs of the companies in this space.
Intapp estimates that the professional and financial services industry is worth $3 trillion in global revenues, with the total addressable market for business software estimated to be approx. $23.9 billion. Within this, Intapp believes it has a serviceable addressable market opportunity of around $9.6 billion, based on its current solutions.
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