(Reuters) – Varonis Systems has selected Morgan Stanley to lead an initial public offering for the data security firm, according to two sources familiar with the matter.
An IPO could come later this year for the New York-based company and could raise about $100 million, the sources said.
Varonis and Morgan Stanley declined comment.
Founded in 2005, Varonis helps organizations manage and analyze their unstructured data, like documents, spreadsheets and media files. It has about 2,000 customers including financial institutions like Greenhill & Co Inc, technology companies like SanDisk Corp and accounting firms like Grant Thornton.
The company has raised funding from investors including Accel Partners, Evergreen Venture Partners, Pitango Venture Capital and EMC Corp.