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Gloo Holdings, Inc. (“Gloo”) has filed to raise approximately $100 million in its initial public offering, selling 9.1 million shares of Class A common stock at a price range of $10 to $12 per share. At the midpoint of $11, the deal implies a market capitalization of about $801 million. The company plans to list its shares on the Nasdaq Global Select Market under the ticker “GLOO.” Roth Capital Partners will serve as the sole book-running manager, joined by Benchmark, Craig-Hallum, Lake Street, Loop Capital Markets, and Texas Capital Securities as co-managers. Following the IPO, Gloo will have a dual-class structure with 9.1 million Class A and 63.7 million Class B shares outstanding, giving co-founder and CEO Scott Beck—known for his leadership roles at Blockbuster and HomeAdvisor—control of approximately 43% of total voting power.
Founded in 2013 in Boulder, Colorado, Gloo is building what it calls a technology platform for the “faith and flourishing ecosystem.” The company connects network capability providers (NCPs)—such as ministries, content publishers, donor service providers, and technology firms—with churches and frontline organizations (CFLs) that deliver worship, education, and community services. Its product suite includes Gloo Workspace, an AI-powered communications and analytics tool for churches; Gloo360, an enterprise technology and data service; and the Gloo Media Network, a fast-growing advertising and donor-engagement business. The company’s acquisition of Outreach, Inc. in 2024 provided one of the largest e-commerce marketplaces for faith-based products, accounting for nearly 88% of revenue in fiscal 2024, and remains Gloo’s core marketplace platform. As of mid-2025, Gloo’s reach extended to more than 140,000 churches and ministry leaders and over 3,000 NCPs, reflecting a strong ecosystem position.
The IPO proceeds are intended for general corporate purposes, including working capital, acquisitions, and technology investments. At the midpoint of the range, net proceeds are estimated at $87.8 million (or $101.8 million with full overallotment). The company noted no specific acquisition targets at this time but plans to continue expanding through selective M&A.
Below is a summary of Gloo’s recent financial results as disclosed in the S-1/A filing (fiscal year-end January 31):
Revenue more than doubled in FY 2024, fueled primarily by the Outreach acquisition, but operating losses deepened as Gloo invested in AI development, enterprise sales, and integration costs. Approximately 70% of total revenue is recurring or re-occurring, underscoring a solid base of subscription and repeat customer activity. The company’s pro forma financials show an even stronger revenue profile, with total sales reaching $33.2 million on a full-year basis and $32.5 million for the first half of FY2025.
Looking forward, Gloo’s growth strategy is anchored around expanding its AI capabilities, enterprise services, and M&A-driven consolidation within the fragmented faith-based tech sector. Its proprietary Gloo AI suite—which includes Gloo AI Chat, the Data Engine, and a Licensing Platform—aims to monetize faith-aligned digital content through responsible, values-based generative AI. The company is also scaling its Gloo Media Network to connect nonprofits, advertisers, and donors, positioning itself as a central hub for technology and engagement in the faith economy.
From an investor perspective, Gloo represents one of the more unconventional IPOs of 2025—a mission-driven, founder-led technology company targeting a $1.2 trillion U.S. faith sector. While losses remain significant, Gloo’s vertical dominance, proprietary technology, and ecosystem depth make it a unique entrant to the public markets, blending purpose and platform economics in a sector that has yet to be digitized at scale.
Gloo Holdings, Inc. is expected to make its debut on the Nasdaq on November 19th, 2025.
