US-based software integration technology provider MuleSoft filed on Friday to raise $100m in an initial public offering that will give exits to networking technology producer Cisco and enterprise software firms Salesforce.com and ServiceNow.
Founded in 2006, MuleSoft produces software that integrates all of a company’s applications, data and devices in a single application network that is accessible for any developers within the organisation.
The company posted a $50m loss in 2016 from revenue of approximately $188m, having made a $65.4m loss the year before from $110m in revenue.
MuleSoft has raised about $260m in total, most recently closing $128m in a 2015 series G round featuring Cisco Investments and Salesforce Ventures, respective subsidiaries of Cisco and Salesforce, as well as ServiceNow.
The round, which valued the company at almost $1.5bn also included Sapphire Ventures, Adage Capital Management, Brookside Capital, Sands Capital Ventures, New Enterprise Associates (NEA), Lightspeed Venture Partners, Meritech Capital Partners, Bay Partners, Hummer Winblad Venture Partners and Morgenthaler Ventures.
None of the three corporates own shares of MuleSoft sized at 5% or more. Venture capital firm Lightspeed Venture Partners is the company’s largest shareholder, with a 17.1% stake.
The company’s other notable investors are Hummer Winblad Venture Partners (15.8%), NEA (14.3%), Morgenthaler Partners (7.5%), Sapphire Ventures (6.8%), Bay Partners (6.3%) and company founder Ross Mason (5.9%).
Goldman Sachs and JP Morgan Securities have been appointed joint lead book-running managers for the IPO, which will take place on the New York Stock Exchange, while BofA Merrill Lynch is active book-running manager.
Allen & Company, Barclays Capital and Jefferies are book-running managers, and Canaccord Genuity, Piper Jaffray and William Blair & Company are serving as co-managers.