By Liz Segrist
Published July 7, 2014
The offering will be handled by the Goldman Sachs funds that have been company stockholders since 2007.
Benefitfocus made seven product announcements at its annual conference in May. At the end of the first quarter, 418 large employers and 43 insurance carriers were Benefitfocus customers. The employer market, which targets companies with more than 1,000 employees, is its fastest-growing segment, the company said.
Benefitfocus saw a net loss of $30.4 million in 2013. For the first quarter of 2014, its total revenue was $30.7 million, up 29% from the prior year, and its operating loss was $11.8 million, a 131% increase from the previous year.
Goldman, Sachs & Co., Deutsche Bank Securities Inc. and Jefferies LLC will act as the book-running managers for the offering. Canaccord Genuity Inc., Piper Jaffray & Co. and Raymond James & Associates Inc. will act as co-managers.
Reach staff writer Liz Segrist at 843-849-3119 or @lizsegrist on Twitter.