zSpace, an education technology provider, files for a $30 million IPO – ZSPC IPO News

zSpace, a company that offers an AR/VR hardware and software platform for education, has filed with the SEC to raise up to $30 million in an initial public offering. The company specializes in providing augmented reality (AR) and virtual reality (VR) educational technology solutions, focusing primarily on the K-12 and Career & Technical Education (CTE) markets in the US.

One of zSpace’s key features is its proprietary hardware and software platform, which enables an interactive, stereoscopic 3D learning experience without the need for VR goggles or specialty glasses. This makes their technology accessible and user-friendly for students and educators. Currently, zSpace’s K-12 platform is being utilized in over 80% of the largest 100 K-12 public school districts in the US, while its CTE solutions have been deployed in approximately 73% of the public school districts it serves.

Founded in 2006 and based in San Jose, CA, zSpace generated $44 million in revenue for the 12 months ending March 31, 2024. The company plans to list on the Nasdaq under the symbol ZSPC, with Roth Capital and Craig-Hallum Capital Group serving as joint bookrunners for the IPO. Pricing terms for the offering have not yet been disclosed.