Faith-based tech platform Gloo raises $72.8 million in US IPO
U.S. 100 dollar banknotes are seen in this picture illustration taken in Kiev, Ukraine, October 31, 2016. REUTERS/Valentyn Ogirenko/Illustration
Gloo Holdings said on Wednesday that it has raised $72.8 million in its U.S. initial public offering, setting the stage for a rare debut by a software provider for the faith-based ecosystem in a market dominated by AI and crypto firms.
The Boulder, Colorado-based company sold 9.1 million shares priced at $8 apiece in the IPO, below its marketed range of $10 to $12. The sale values Gloo at $582.2 million.
Stock listings in the U.S. are expected to pick up in the December window as the Securities and Exchange Commission resumes operations after the longest ever U.S. government shutdown had halted IPO filing reviews.
The shutdown followed the busiest fall IPO window since 2021, briefly interrupting a recovery that was previously scuttled in April by U.S. President Donald Trump's tariffs.
Gloo runs a platform to connect Christian churches and other faith groups to providers of technology solutions, content, marketing services and donor services. Earlier this year, the company hired former Intel CEO Pat Gelsinger as its head of technology and executive chairman.
Gloo's debut would represent the newest public listing from sectors aligned with U.S. President Donald Trump, who has frequently embraced a conservative Christian worldview.
Several companies in crypto, space and AI - sectors in line with Trump's policies - have taken centerstage in the IPO market recovery.
Founded in 2013, Gloo raised $110 million in growth funding last year to expand its AI initiatives, including chatbots that provide a "safe search" feature and offer responses grounded in the Bible.
Gelsinger will help the group develop AI tools such as virtual assistants and chatbots.
The company is set to debut on the Nasdaq on Wednesday, under the ticker symbol "GLOO".
Roth Capital Partners is the sole book-running manager for the offering.
