US-based database management software provider MongoDB has confidentially filed for an initial public offering that will give exits to corporates Salesforce, Intel and Red Hat, TechCrunch reported yesterday.
Founded in 2007, MongoDB has built a software platform that stores data in documents where it can be indexed or analysed. The company was reportedly valued at $1.6bn as of 2015.
The Wall Street Journal reported in May this year that MongoDB had hired investment banks for an IPO, but news of the filing, made through provisions in the 2012 JOBS Act, is new.
MongoDB has raised approximately $311m in funding, most recently securing $80m in an early 2015 series G round featuring Goldman Sachs, Altimeter Capital, New Enterprise Associates (NEA), Sequoia Capital and funds managed by T. Rowe Price Associates.
Data software provider Red Hat and Intel Capital, the corporate venturing arm of chipmaker Intel, invested a reported $8m in MongoDB in 2012, then took part in a $150m round in 2013 that included enterprise software producer Salesforce, T Rowe Price, Altimeter Capital, NEA and Sequoia Capital