Ohmyhome eyes $15m raise in US IPO at around $88m valuation

Correction (Dec. 9, 12:50 p.m. SGT): This article was updated to better highlight Ohmyhome’s valuation and the amount it looks to raise with the IPO. 

Ohmyhome, a Singapore-based property platform, has filed to list its shares in the US in an IPO with a valuation of around US$88 million.

Photo credit: Ohmyhome

The company is looking to offer 3.25 million shares at a price of between US$4 and US$5 apiece, according to its filing, to raise up to US$16.25 million or about US$14.6 million at the midpoint. It looks to list its shares on the Nasdaq under the ticker “OMH.”

Spartan Capital Securities is acting as the lead managing underwriter and book-runner for the offering.

In the filing, Ohmyhome said it logged US$2.4 million in total revenue for the six months ended June 30 this year, up from US$1.7 million in the same period in 2021.

Meanwhile, its net loss reached almost US$700,000 in the first half of 2022, doubling from the US$365,000 it logged in H1 2021.

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Ohmyhome also said in the filing that it aims to become a property super app and be present across customers’ journeys, from the initial listing to the actual transaction of the property as well as its maintenance.

In 2021, the firm raised US$5 million in a series A+ funding round led by Swettenham Blue.