Burlington, Massachusetts-based Everbridge, which makes an emergency communications platform for many enterprise and government organizations, set the terms of its initial public offering. The IPO is set at 7.5 million shares, offered at between $11 and $13 per share, equating to a midpoint of $90 million, according to the company’s SEC filings.
The company was founded in the wake of 9/11, when the gaps in many communication systems became evident, and now has over 3,000 customers worldwide. Among the many other organizations it serves, Everbridge provides a SaaS-based critical communications platform for over 800 hospitals and emergency departments. The company offers a real-time alert management platform wherein each organization can create customized communications. Should an emergency arise, the system leverages all available communication channels including text, email, voice and chat to keep contacting all recipients until the confirm receipt of the message.
Some of the scenarios in which Everbridge can be used are outlined on the company’s website and run the gamut of disasters hospitals must be prepared for: hurricanes, wildfires, chemical spills and active shooters (the website cautions that hospitals are one of the most hazardous work places in the US, and active shooter events nearly doubled between 2000 and 2011).
It can also be used as a notification system to improve collaboration within a care team managing the most critically acute patients. Secure messaging, on-call scheduling to engage the right care team members at the right time and incident communications (with color-coded indications) can all shorten the time it takes for healthcare providers to respond in situations such as stroke or heart attack.
Long Beach, California-based Molina Healthcare uses Everbridge, and offers up a case study of how the platform is used. The system described 63 events over a few months that necessitated the closing of facilities, and they used Everbridge to communicate with their healthcare staff all the information needed to either do their job while still ensuring safety. Molina also mentioned the use of Everbridge's IT alerting tool for incidents wherein a critical or top tier IT application goes down.