Accolade Seeks Up to $211M in IPO

Employee benefits platform Accolade disclosed the share price for its planned IPO. The company plans to price its IPO at $21 per share, for just over 10 million shares.

Accolade, which splits its headquarters between Seattle and Philadelphia, provides users information about their available benefits and can help them pick the most cost-effective providers in their network. The company has a total of 58 customers, which it charges on a per-member per-month basis.

Some of its biggest customers include American Airlines, Comcast Cable, Lowe’s and State Farm. But these four companies also make up a significant portion of its business, accounting for more than 56% of its revenue, with Comcast alone accounting for 24%. (Comcast is also an investor in the company). Read More: MedCityNews

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