--Enterprise SaaS company seeks to capitalize on global employee experience 
market opportunity

Limeade ( 
https://c212.net/c/link/?t=0&l=en&o=2677473-1&h=154476876&u=https%3A%2F%2Fwww.limeade.com%2F&a=Limeade 
), an employee experience software company, announced it has raised A$100 
million (U.S. $68.75 million) with a market capitalization opening at A$490.8 
million (U.S. $335 million) and completed an initial public offering on the 
Australian Securities Exchange (ASX: LME) on December 20, 2019, Sydney time. 

Logo - https://mma.prnewswire.com/media/223310/limeade_logo.jpg

The Limeade employee experience platform helps organizations better care for 
their employees by unifying and delivering well-being, engagement and inclusion 
solutions -- with robust communications capabilities. Today the company serves 
more than 175 companies with over 2.4 million users in 100 countries from 
offices in the U.S., Germany and Canada.

This IPO enables Limeade to invest in platform innovation, existing and future 
solutions, customer delight and continued growth in U.S. and international 
markets.

"Employees have more voice, power and career mobility than ever -- and many 
actively reject toxic, discriminatory, fixed-mindset or command-and-control 
company cultures. As a result, the employee experience market is expanding but 
not yet delivering what large companies and their people want and need," said 
Henry Albrecht, Limeade founder and CEO. "Limeade is perfectly positioned to 
provide the key elements of employee experience in a unified, mobile-first 
platform, through the lens of care."

A strong employee experience is linked to companies' ability to attract and 
retain talent, boost workforce engagement and drive productivity. Despite these 
benefits, in a recent global survey ( 
https://c212.net/c/link/?t=0&l=en&o=2677473-1&h=2820050742&u=https%3A%2F%2Fwww.accenture.com%2F_acnmedia%2FPDF-64%2FAccenture_Strategy_Employee_Experience_Reimagined_POV.pdf&a=global+survey 
), 59% of leaders reported they did not have the necessary infrastructure or 
resources to address the complexities of the employee experience. 

Globally, industry analyst Bret Starr estimates the current market opportunity 
for employee experience software and services is expected to grow by 
approximately 20% in 2020 and 25% per annum in 2021-2023, as the employee 
experience industry moves further into mainstream adoption.

"Companies need solutions like Limeade because the employee experience drives 
the customer experience, and the combination drives exponential business 
results," said Starr. "There is no chicken-and-egg argument anymore. Employee 
experience is the chicken and business results are the egg."

"Limeade is a founder-led, organically-grown company with an audacious mission 
to improve well-being in the world," said Elizabeth Bastoni, Limeade Board 
Chair. "As a stable, fast-growing company in a fragmented, consolidating 
industry, this financing will help Limeade stay true to its purpose. Together 
with a passionate, diverse Board of Directors; a world-class management team; 
and a highly talented and committed workforce, we will help employees around 
the world know their company cares."

Limeade customers have up to three times lower turnover for participating 
employees. Surveys have indicated that 85% of Limeade employees feel engaged at 
work. 

"We are on track to achieve our 2019 fiscal year forecast and have strong 
momentum going into 2020 to support our growth goal," said Toby Davis, Limeade 
CFO. "Additionally, we're continuing to add headcount to the team as planned. 
We will maintain our focus on delivering positive outcomes for our customers 
and shareholders as a publicly traded company. The future is bright for Limeade 
as we accelerate our growth into the booming employee experience sector." 

Limeade has an award-winning culture, receiving recognition as the #1 Best 
Workplace in Washington by the Puget Sound Business Journal, Inc. 5000 Fastest 
Growing Companies in America, Deloitte Technology Fast 500, Fortune's Great 
Place to Work and Entrepreneur Top Company Cultures. 

Moelis Australia Advisory Pty Ltd and Macquarie Capital (Australia) Limited 
acted as joint underwriter, lead manager and bookrunner for the IPO. Clayton 
Utz acted as Australian legal advisor and K&L Gates acted as U.S. legal 
counsel. 

Disclosure
This press release does not constitute an offer to sell, or the solicitation of 
an offer to buy, nor shall there be any sale of any securities referred to 
herein in any state or other jurisdiction in which such offer, solicitation or 
sale would be unlawful. Any securities referred to herein have not been 
registered under the US Securities Act of 1933, as amended (the "US Securities 
Act") and may not be offered or sold in the United States or to US persons 
absent registration or an applicable exemption from registration under the US 
Securities Act and applicable state securities laws. In addition, any hedging 
transactions involving the securities referred to herein may not be conducted 
unless in compliance with the US Securities Act.

About Limeade
Limeade is an employee experience software company that helps build great 
places to work. The Limeade platform unifies employee well-being, engagement 
and inclusion solutions with robust communications capabilities. Recognized for 
its own award-winning culture, Limeade helps every employee know their company 
cares. To learn more, visit www.limeade.com. 

SOURCE:  Limeade

CONTACT: Rachel Fukaya
         Walker Sands for Limeade,
         limeade@walkersands.com
         +1-(831)-229-5761