(Reuters) – Marketing software provider HubSpot Inc filed with U.S. regulators on Monday for an initial public offering of common stock.
The Cambridge, Massachusetts-based company listed Morgan Stanley, UBS and JP Morgan among the underwriters to the IPO, according to the S-1 filing.
Founded in 2006, HubSpot has raised a total of $101.34 million in venture funding to date, according to Thomson Reuters (parent of Reuters). Most recently, the company raised $34.71 million from Altimeter Capital, Charles River Ventures, Cross Creek Capital and others in October 2012, Thomson Reuters reports. That financing round valued HubSpot at $475.21 million, according to VC Experts.
Five venture funds collectively own 66.3 percent of HubSpot. Its largest shareholder is General Catalyst Partners (which owns 27.1 percent), followed by Matrix Partners (17.1 percent), Sequoia Capital (10.3 percent), Scale Venture Partners (6.8 percent) and Charles River (5 percent), according to the regulatory filing.
The company counts funds affiliated with Sequoia Capital, Charles River Ventures and General Catalyst Partners among its stockholders.
The filing included a nominal fundraising target of about $100 million, but did not reveal how many shares HubSpot planned to sell.
The company intends to list its common stock on the New York Stock Exchange under the symbol “HUBS”.
HubSpot’s revenue more than doubled to $77.6 million from 2011 to 2013, while its net loss attributable to common stockholders grew to $34.3 million from $25.5 million.
Marketing software company Yodle Inc, backed by investors such as Draper Fisher Jurvetson, Bessemer Venture Partners and Jafco Technology Partners, also filed for an IPO in July. (See its most recent S-1/A filing here.)
Other recent public offerings in the sector include Tremor Video Inc, YuMe Inc, Rocket Fuel Inc and Criteo SA.
HubSpot intends to use the proceeds from the IPO for research and development, acquisitions and general corporate purposes.
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.
(Reporting by Neha Dimri in Bangalore; Editing by Kirti Pandey and Simon Jennings)
(Additional reporting and editing for peHUB by Lawrence Aragon)
Photo: IPO illustration courtesy of ShutterStock