Varolli Cancels IPO

Varolli Corp., a Seattle-based provider of SaaS interactive customer communications solutions, has withdrawn its IPO registration, due to “difficult market conditions.” The company had filed last September to raise $86.25 million, with Lehman Brothers and JPMorgan serving as co-lead underwriters.

 

Varolli was founded in 1999 as AlertOnline, and later was renamed Par3 Communications. It has raised around $33 million in VC funding from firms like Draper Fisher Jurvetson (30.1% pre-IPO stake), BlueRun Ventures (21.7% pre-IPO stake), InterWest Partners (19.3%), Timberline Venture Partners (5.5%) and Staenberg Venture Partners. www.varolii.com