Upland Software Inc IPO 2014

Upland Software Inc is scheduled to go public on November 6, 2014.  They will be releasing 3,846,154 shares in an attempt to raise about $62 Million dollars.

Upland is a leading provider of cloud-based enterprise work management software.
We define enterprise work management software as software applications that
enable organizations to plan, manage and execute projects and work. Our software
applications help organizations better optimize the allocation and utilization of their people, time and money.

How Upland Software Inc Will Use The IPO Funds

Upland Software Plans to use the funds in the following way:

  • 11.5 Million to pay back interest on their loan through Comerica Bank

This was the only real plan the company listed for use of the proceeds of the stock offering, but did list a few generic businesses practices that do require a large amount of cash such as acquisitions of smaller companies, expanding sales force, growing sales of the applications and continued development of their software.  Any remaining money would be invested in short-term high-grade bonds.

Should I Invest in the Upland Software IPO?

I would not buy-in to this IPO as the market does not seem like one for explosive growth.  A cloud-based workplace management software just does not have the disruptive qualities I look for when investing in a technology company.