US-based big data processing platform creator Hortonworks filed on Monday for an initial public offering on Nasdaq to raise up to $100m.
Founded in 2011, Hortonworks has raised almost $250m since, including $100m from a series D round in March this year funded by investors including Yahoo, the internet company that is Hortonworks’ largest shareholder, with a 19.6% stake.
Yahoo has been an investor in Hortonworks since the company’s $23m series A round in 2011, subsequently participating in a $25m series B round and a $50m series C.
Computer manufacturer Hewlett-Packard invested $50m in July and now holds a 5.9% share, while other shareholders include data analysis software producer Teradata (8.3%), Benchmark Capital (18.7%) and Index Ventures (9.5%). Past backers also include BlackRock, Passport Capital, Dragoneer Investment Group and Tenaya Capital.
Hortonworks intends to use the proceeds from the IPO to expand its sales activities, expand in territories including North America and Western Europe, and to further develop its platform and integrate it with other developers working with Apache Hadoop data software.
Goldman Sachs, Credit Suisse Securities, RBC Capital Markets, Pacific Crest Securities, Wells Fargo Securities and Blackstone Advisory Partners are the underwriters for the offering.