Real Matters' IPO raises $157 mln, values company at $1 bln-plus

Toronto cloud real estate technology platform Real Matters Inc has closed its initial public offering, raising about $156.7 million for the company and selling shareholders. The offering’s greenshoe option may generate an additional $23.5 million. Real Matters, which began trading today on the Toronto Stock Exchange under the symbol REAL, achieved a valuation in excess of $1 billion, according to Whitecap Venture Partners, a Canadian venture capital firm and one of the company's earliest investors. Its other private investors include Kensington Venture Fund, Radar Capital and Wellington Financial.

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