IT company AppDynamics has filed for an IPO, with plans to list on the NASDAQ under the symbol APPD, per an SEC filing. The company, which provides a platform for managing software environments, was most recently valued at $1.8 billion in December 2015 when it secured a $158 million investment. AppDynamics has raised about $364 million in VC funding since its 2008 founding; investors include Lightspeed Venture Partners and Greylock Partners (each a 20.8% pre-IPO stake).
IPO rumors have swirled around AppDynamics for some time now, with the company’s management vocal about its plans to eventually go public when the time is right. It seems early 2017 is it. The company’s revenue is on an upward trajectory, swelling to $158.4 million for the nine months ending in October from $102.8 million for the same period last year. Losses, meanwhile, remained relatively steady, with the company losing about $95 million this year through October and roughly $92.5 million for the comparable period in 2015.
Read more recent IPO news—primarily big-name startups delaying flotation plans—here.
Article by PitchBook