US-based cybersecurity technology provider Veracode has confidentially filed for an initial public offering and plans to float in May this year, Fortune reported on Monday.
Veracode has raised more than $110m from investors including electronics software producer Rovi Corporation and cybersecurity company Symantec, most recently closing a $40m series F round in September 2014.
Founded in 2006, Veracode has developed a cloud-based platform for application infrastructure. It has grown relatively quickly through a series of high-profile accounts.
The series F round, led by investment firm Wellington Management, was raised at a $450m post-money valuation but Veracode’s value by the time it goes public is expected to be as much as twice that figure.
Other investors in Veracode include In-Q-Tel, which acts as the venture capital representative of the US intelligence community, and VC firms .406 Ventures, Atlas Venture, StarVest Partners, Cross Creek Advisors, Meritech Capital Partners and Polaris Partners.
The company has reportedly chosen underwriters for the offering, though they remain undisclosed.