Flywire is headquartered on the 10th floor of 141 Tremont Street, in Boston.
Gary Higgins / Boston Business Journal
Boston-based payment tech company Flywire Corp. said Thursday night it filed confidentially to hold an initial public offering, but has not disclosed the overall size of the offering yet.
In a press release, Flywire said that it has confidentially submitted a draft of the documents to the U.S. Securities and Exchange Commission relating to a proposed initial public offering, or IPO.
The company said that the number of shares to be offered and the price range for the proposed offering have not yet been determined, and a Flywire spokesperson declined to provide further comment. However, Reuters cites "people familiar with the matter" in reporting that the offering would value the company at $3 billion.
Flywire has more than 450 worldwide employees. Earlier this year, the company was reportedly working on its IPO listing with investment banks Goldman Sachs Group Inc. (NYSE: GS) and JPMorgan Chase & Co. (NYSE: JPM). The IPO, which might be slated as early as this summer, could value the Boston-based fintech company at around $3 billion, according to news reports.
Flywire is one of a handful of tech company in Boston looking to go public in 2021. Data market research firm PitchBook included AI company DataRobot Inc. and cybersecurity provider Cybereason Inc. in its IPO pipeline predictions. Boston-based Toast Inc. is also reportedly eyeing an IPO that could value the restaurant software maker at around $20 billion.
This year, a number of tech companies opted to go public thanks to reverse mergers with special purpose acquisition companies, or SPAC. One of the latest to announce such plans is Waltham-based Evolv Technology, which counts Jeb Bush's firm and Bill Gates among its backers.
Founded in 2011, Flywire is one of Massachusetts tech unicorns, or companies valued at least $1 billion. It hit that threshold last year, after a $120 million round led by Goldman Sachs. Other backers include Singaporean investment firm Temasek Holdings and earlier investors Bain Capital Ventures and F-Prime Capital.
The company provides more than 250 payment methods to over 2,250 clients, processing payments in more than 240 countries.
Nicknames local workers call themselves
1 of 15
Company: Cambridge-based CarGurus Inc. (Nasdaq: CARG)
Employee nickname: Gurus
Headcount: 827
What the company does: Automotive marketplace
Comments: "The term 'Gurus' emerged organically as a way we all started to refer to one another, especially in company-wide internal communication. Over the years, our employees have really embraced the term because it is a natural extension of our company name and it also celebrates the unique expertise that each of us offers," Brian Kramer, a spokesperson for CarGurus, said in a statement.
Pictured: CarGurus is headquartered at 2 Canal Park in Cambridge
Employee nickname: Gurus
Headcount: 827
What the company does: Automotive marketplace
Comments: "The term 'Gurus' emerged organically as a way we all started to refer to one another, especially in company-wide internal communication. Over the years, our employees have really embraced the term because it is a natural extension of our company name and it also celebrates the unique expertise that each of us offers," Brian Kramer, a spokesperson for CarGurus, said in a statement.
Pictured: CarGurus is headquartered at 2 Canal Park in Cambridge
Gary Higgins / Boston Business Journal
Company: Waltham-based Dyne Therapeutics Inc. (Nasdaq: DYN)
Employee nickname: Dynamos
Headcount: 50 people in Mass.
What the company does: Drugs to treat serious muscle diseases
Comments: "We coined the term ‘Dynamos’ because 'dyne' is a measure of force and we pursue our goals with energy, fueled by innovation," said Josh Brumm, president and CEO of Dyne Therapeutics, in a statement.
Pictured: A group of employees at Dyne’s Rare Disease Day, February 2020
Employee nickname: Dynamos
Headcount: 50 people in Mass.
What the company does: Drugs to treat serious muscle diseases
Comments: "We coined the term ‘Dynamos’ because 'dyne' is a measure of force and we pursue our goals with energy, fueled by innovation," said Josh Brumm, president and CEO of Dyne Therapeutics, in a statement.
Pictured: A group of employees at Dyne’s Rare Disease Day, February 2020
waltervandusen.com
Company: Walpole-based Thrasio Inc.
Employee nickname: Thrashers
Headcount: 700
What the company does: Acquirer of Amazon businesses
Comments: "The company's name was continuously being mispronounced 'Thrashio,' so it became a running joke in the office that no one could pronounce the name and 'Thrashio' sounded like a rock band. Co-founder Carlos [Cashman] started using 'Thrashers' in meetings and it stuck," Brandon Hendrix, senior vice president for marketing at Thrasio, said in a statement.
Employee nickname: Thrashers
Headcount: 700
What the company does: Acquirer of Amazon businesses
Comments: "The company's name was continuously being mispronounced 'Thrashio,' so it became a running joke in the office that no one could pronounce the name and 'Thrashio' sounded like a rock band. Co-founder Carlos [Cashman] started using 'Thrashers' in meetings and it stuck," Brandon Hendrix, senior vice president for marketing at Thrasio, said in a statement.
Gary Higgins / Boston Business Journal
Company: Boston-based Rapid7 Inc. (Nasdaq: RPD)
Employee nickname: Moose
Headcount: 1,847, including 700 in Mass.
What the company does: Security analytics software
Comments: "The term originated a while back during a conversation with a few sales leaders. The idea is that the singular and plural version of 'moose' is ‘moose.’ So we are all ‘one moose,’” said Caitlin Doherty, a spokesperson for Rapid7, in a statement.
Pictured: Rapid7 signage has been installed at their new North Station location
Employee nickname: Moose
Headcount: 1,847, including 700 in Mass.
What the company does: Security analytics software
Comments: "The term originated a while back during a conversation with a few sales leaders. The idea is that the singular and plural version of 'moose' is ‘moose.’ So we are all ‘one moose,’” said Caitlin Doherty, a spokesperson for Rapid7, in a statement.
Pictured: Rapid7 signage has been installed at their new North Station location
Gary Higgins / Boston Business Journal
Company: Natick-based Cognex Corp. (Nasdaq: CGNX)
Employee nickname: Cognoids
Headcount: 2,055
What the company does: Electronics manufacturing
Comments: "I don't like to refer to people as employees and we're all employees, even the CEO is an employee, but I just don't like that term," said Robert Shillman, also known as 'Doctor Bob,' founder of the company. "We don't even like the term 'human resources' ... And that department, really what that department is set up to do is to service employees, so we call it Employee Services."
Employee nickname: Cognoids
Headcount: 2,055
What the company does: Electronics manufacturing
Comments: "I don't like to refer to people as employees and we're all employees, even the CEO is an employee, but I just don't like that term," said Robert Shillman, also known as 'Doctor Bob,' founder of the company. "We don't even like the term 'human resources' ... And that department, really what that department is set up to do is to service employees, so we call it Employee Services."
Gary Higgins / Boston Business Journal
Company: Lowell-based UKG, or Ultimate Kronos Group
Employee nickname: U Krew, with individuals referred to as U Krewers
Headcount: Just over 13,000
What the company does: Workforce management and HR software
Comments: UKG was born after Lowell-based Kronos Inc. completed its merger with Florida-based Ultimate Software in April 2020. Employees at the two companies were known as Kronites and UltiPeeps. Post merger, the name U Krew was selected by an employee vote, according to Aron Ain, CEO of UKG
Pictured: Aron Ain, CEO of UKG
Employee nickname: U Krew, with individuals referred to as U Krewers
Headcount: Just over 13,000
What the company does: Workforce management and HR software
Comments: UKG was born after Lowell-based Kronos Inc. completed its merger with Florida-based Ultimate Software in April 2020. Employees at the two companies were known as Kronites and UltiPeeps. Post merger, the name U Krew was selected by an employee vote, according to Aron Ain, CEO of UKG
Pictured: Aron Ain, CEO of UKG
W. Marc Bernsau
Company: Boston-based Lola.com
Employee nickname: Lola Pack, but employees in the service team refer to themselves as Wombats
Headcount: 68 people, including 46 in the Boston area
What the company does: Expense management software, business travel management software
Comments: The reason why employees in the service team call themselves the 'wombats' is that "a group of wombats together is called a 'wisdom.' So, when they're meeting all together, they have all this wisdom about our customers and about travel and expense and things like that, so they picked that," said Mike Volpe, CEO of Lola.com
Pictured: Paul English, CTO (left) and Mike Volpe, CEO of Lola.com
Employee nickname: Lola Pack, but employees in the service team refer to themselves as Wombats
Headcount: 68 people, including 46 in the Boston area
What the company does: Expense management software, business travel management software
Comments: The reason why employees in the service team call themselves the 'wombats' is that "a group of wombats together is called a 'wisdom.' So, when they're meeting all together, they have all this wisdom about our customers and about travel and expense and things like that, so they picked that," said Mike Volpe, CEO of Lola.com
Pictured: Paul English, CTO (left) and Mike Volpe, CEO of Lola.com
Gary Higgins
Company: Boston-based Flywire Corp.
Employee nickname: FlyMates
Headcount: More than 450
What the company does: International payment software
Comments: "We've been using the term FlyMate for a while because we've always felt that 'employee' is too impersonal and transactional," said Sarah King, a spokesperson for Flywire, in an email. "We invoke our branding a lot in terms of people and culture; we call FlyMates' babies 'FlyBabies,' and we call our orientation 'Flying Start.'"
Pictured: Flywire is based near Boston Common
Employee nickname: FlyMates
Headcount: More than 450
What the company does: International payment software
Comments: "We've been using the term FlyMate for a while because we've always felt that 'employee' is too impersonal and transactional," said Sarah King, a spokesperson for Flywire, in an email. "We invoke our branding a lot in terms of people and culture; we call FlyMates' babies 'FlyBabies,' and we call our orientation 'Flying Start.'"
Pictured: Flywire is based near Boston Common
Photo courtesy of Flywire
Company: Boston-based OM1
Employee nickname: OMies
Headcount: 108
What the company does: AI software for health care data analysis
Comments: "I don't think there's anyone I can specifically attribute our nickname OMies," said Renee Hurley, a spokesperson for OM1, in an email. "It sort of came about organically. As a company culture, we've always been focused on working hard - healthcare is a serious business - but also celebrating together, having fun, and recognizing that we are all in this together. And, of course it's a play on the word 'homies.'"
Pictured: A group of OM1 employees
Employee nickname: OMies
Headcount: 108
What the company does: AI software for health care data analysis
Comments: "I don't think there's anyone I can specifically attribute our nickname OMies," said Renee Hurley, a spokesperson for OM1, in an email. "It sort of came about organically. As a company culture, we've always been focused on working hard - healthcare is a serious business - but also celebrating together, having fun, and recognizing that we are all in this together. And, of course it's a play on the word 'homies.'"
Pictured: A group of OM1 employees
OM1
Company: Boston-based Iron Mountain Inc. (NYSE: IRM)
Employee nickname: Mountaineers
Headcount: 24,000, including 800-1,000 in Mass.
What the company does: Storage and information management services
Comments: "Our 'Mountaineer' nickname has existed for at least 30 years. It started with our former CEO, Richard Reese," Fabienne Alexis, a spokesperson for Iron Mountain, wrote in an email. "Our current CEO, Bill Meaney, continues in the tradition of focusing first on the people."
Pictured: Iron Mountain has 15 data centers across three continents, including one in New Jersey
Employee nickname: Mountaineers
Headcount: 24,000, including 800-1,000 in Mass.
What the company does: Storage and information management services
Comments: "Our 'Mountaineer' nickname has existed for at least 30 years. It started with our former CEO, Richard Reese," Fabienne Alexis, a spokesperson for Iron Mountain, wrote in an email. "Our current CEO, Bill Meaney, continues in the tradition of focusing first on the people."
Pictured: Iron Mountain has 15 data centers across three continents, including one in New Jersey
Iron Mountain
Company: Boston-based Humanyze
Employee nickname: Humanzees
Headcount: 37, including 24 in Mass.
What the company does: Workplace analytics software
Comments: "An employee named Jeremy thought of the name when the team realized they couldn’t be just 'humans.' When Jeremy shared an image of Oliver the Chimp, the team thought it would funny to call themselves the 'humanzees' and the name stuck," according to a spokesperson.
Pictured: The office of Humanyze is in the Government Center area
Employee nickname: Humanzees
Headcount: 37, including 24 in Mass.
What the company does: Workplace analytics software
Comments: "An employee named Jeremy thought of the name when the team realized they couldn’t be just 'humans.' When Jeremy shared an image of Oliver the Chimp, the team thought it would funny to call themselves the 'humanzees' and the name stuck," according to a spokesperson.
Pictured: The office of Humanyze is in the Government Center area
Robert Deitchler
Company: Boston-based Atalanta Therapeutics
Employee nickname: Argonauts
Headcount: 25
What the company does: Treatments for neurodegenerative diseases
Comments: "Atalanta is named after a mythological Greek heroine who was a fierce huntress and, in some accounts, the only woman to sail with the Argonauts in their quest for the Golden Fleece. The name is a reference both to our founding women leaders and also a nod to our science — the protein Argonaute 2 plays an essential role in RNA interference, which is what Atalanta is using in its drugs. So the nickname 'Argonauts' sprung out of this backstory. Like the Argonauts, we see ourselves as explorers charting new frontiers," Alicia Secor, CEO of Atalanta, said in a statement.
Pictured: Argonauts having a virtual meeting
Employee nickname: Argonauts
Headcount: 25
What the company does: Treatments for neurodegenerative diseases
Comments: "Atalanta is named after a mythological Greek heroine who was a fierce huntress and, in some accounts, the only woman to sail with the Argonauts in their quest for the Golden Fleece. The name is a reference both to our founding women leaders and also a nod to our science — the protein Argonaute 2 plays an essential role in RNA interference, which is what Atalanta is using in its drugs. So the nickname 'Argonauts' sprung out of this backstory. Like the Argonauts, we see ourselves as explorers charting new frontiers," Alicia Secor, CEO of Atalanta, said in a statement.
Pictured: Argonauts having a virtual meeting
Atalanta Therapeutics
Company: Boston-based Zerto
Employee nickname: Zertonians
Headcount: 600
What the company does: Data recovery
Comments: "Zerto calls its employees Zertonians—they're members of a large Zerto community that stretches from its partners to customers to employees. 'Zertonian' helps reflect the team-oriented nature of working at Zerto," according to a spokesperson.
Pictured: A group of Zertonians at a July 4th party years ago
Employee nickname: Zertonians
Headcount: 600
What the company does: Data recovery
Comments: "Zerto calls its employees Zertonians—they're members of a large Zerto community that stretches from its partners to customers to employees. 'Zertonian' helps reflect the team-oriented nature of working at Zerto," according to a spokesperson.
Pictured: A group of Zertonians at a July 4th party years ago
Zerto
Company: Boston-based ChaosSearch Inc.
Employee nickname: Chaosians
Headcount: 36, including 30 in Mass.
What the company does: Data platform for log analytics
Comments: David Bunting, director of demand generation at ChaosSearch, wrote in an email: "Imagine an episode of StarTrek where they encounter an odd planet somewhere in deep space. The planet's inhabitants are known as Chaosians, and they are exclusively dedicated to solving big data analytics issues on behalf of the universe. We’re just like that! (except instead of a planet, we have a small office near North Station)."
Pictured: A group of Chaosians
Employee nickname: Chaosians
Headcount: 36, including 30 in Mass.
What the company does: Data platform for log analytics
Comments: David Bunting, director of demand generation at ChaosSearch, wrote in an email: "Imagine an episode of StarTrek where they encounter an odd planet somewhere in deep space. The planet's inhabitants are known as Chaosians, and they are exclusively dedicated to solving big data analytics issues on behalf of the universe. We’re just like that! (except instead of a planet, we have a small office near North Station)."
Pictured: A group of Chaosians
David Bunting
Company: Boston-based Globalization Partners Inc.
Employee nickname: Dream Team
Headcount: 300, including 65 in Mass.
What the company does: Employment services
Comments: "Globalization Partners was always Nicole Sahin’s dream. She wanted to build a company that breaks down barriers to global business – and for everyone, everywhere," a spokesperson wrote. "As more and more people joined the company (from the very beginning and present day), her dream became theirs too. The phrase Dream Team came out of that idea."
Pictured: The Dream Team at a team summit
Employee nickname: Dream Team
Headcount: 300, including 65 in Mass.
What the company does: Employment services
Comments: "Globalization Partners was always Nicole Sahin’s dream. She wanted to build a company that breaks down barriers to global business – and for everyone, everywhere," a spokesperson wrote. "As more and more people joined the company (from the very beginning and present day), her dream became theirs too. The phrase Dream Team came out of that idea."
Pictured: The Dream Team at a team summit
JOSUE DOMINGUEZ GOGOGO
