VC-backed Castlight Health raises $178m in public listing


Venture capital-backed Castlight Health, a US provider of enterprise software to the healthcare industry, has raised $178m from its New York IPO, with a total valuation of around $1.39bn.

The offering was priced at $16 per share, with 11,100,000 sold. Founded in 2008, the company has attracted corporate customers including Allegis Group, Honeywell, Life Technologies and Regis Corporation.

Most recently Castlight raised $100m in Series D financing in May 2012, at the time one of the largest fundraising rounds on record for a health-related software business.

The round brought the company’s total funding to $181m with backers including T Rowe Price, Morgan Stanley Investment Management, The Wellcome Trust, US Venture Partners, Maverick Capital, Oak Investment Partners and Venrock.

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