Apptio announced today that it has filed an initial public offering with the U.S. Securities and Exchange Commission. Reports show the company has a proposed maximum offering price of $75 million. The Bellevue company did not say how many common stock shares it would offer.
The company reported 2015 revenue at $123 million with a net loss of $41 million. Lead underwriters are Goldman, Sachs & Co, J.P. Morgan, and Bank of America Merrill Lynch.
Apptio provides cloud-based technology business management software. CEO Sunny Gupta founded the company in 2007 and the possibility of the company presenting an IPO has been tossed around for the past two years. Meanwhile, Gupta continued to build an executive team with experience in running public companies, as well as those with investor relations experience and general counsel.
If Apptio does go public, it would be the second company to do so this year from the Puget Sound area. Seattle’s Impinj went public in July at $14 per share and is now trading at $20 per share with a $348 million valuation.