With an eye toward an IPO, a bustling Vancouver company lands $35M

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With an eye toward an IPO, a bustling Vancouver company lands $35M

May 10, 2017

A Vancouver company that works in the laser manufacturing space has raised $35 million in anticipation of initiating a public offering.

The nLight fundraise— its second major such investment in the last 18 months — will help the company explore an IPO as it looks to capitalize on a lucrative market, CEO Scott Keeney said.

The filing, released late Wednesday morning, indicates that 21 investors took part in the fundraise.

The company makes semiconductor-based, high-performance lasers used in materials processing, defense and medical device markets.

“It’s a pretty hot sector: There are only a few of us in the world that have the right technology to do it, and we’re a leader in the core technology” of the laser space, Keeney said. “With laser apps, there’s a lot that people don’t understand, but when they do, it’s good stuff.”

The company employs 400-plus workers locally and counts revenue above the $100 million mark. What’s more, nLight is growing at a 30 percent annual clip.

It shares a space with Coherent Inc. (Nasdaq: COHR), which trades around the $250 mark.

“The IPO market is something we continue to plan for … this funding round will support our continued growth,” Keeney said.

The company had already raised $35 million of a round it began in November 2014, according to a January 2016 round. In 2013, nLight captured a Lighthouse Award from the PBJ for landing Private 100 status five consecutive times.

The company was founded in 2000 and has a facility in Hillsboro.

See the original article on Portland Business Journal here.

 


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