Another business technology company wants to make a go on the public markets.
Apptio, a Bellevue, Wash.-based business software company, filed to go public on Friday and plans to trade on NASDAQ with the symbol “APTI.” The nine-year-old company said it plans to raise $75 million, although that’s likely a placeholder.
Apptio sells software to companies’ IT staff that helps them manage all their business infrastructure technology and keep track of how much everything costs. Its technology also works for businesses that want to keep track of how much they are spending on cloud computing services provided by Amazon (AMZN) Web Services and Microsoft (MSFT).
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In 2015, Apptio brought in $129.3 million in total sales, but also had net losses of $41.0 million for the same time period.
The company has raised roughly $136 million in funding from venture capital firms like Andreessen Horowitz, Greylock Partners, Madrona Venture Group, and Shasta Ventures.
Its underwriters are Goldman Sachs (GS), J.P. Morgan Securities, and Merrill Lynch.
So far in 2016, there have been five IT-focused tech IPOs.
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Some of the most notable IPOs have been data analytics firm Talend, which went public in late July and communications software startup Twilio (TWLO), which went public in June.