ShoreTel Files for $85 Million

ShoreTel Inc., a Sunnyvale, Calif.-based provider of IP telecom systems for enterprises, has filed for an $85 million IPO. It plans to trade on the Nasdaq under ticker symbol SHOR, with Lehman Brothers and JPMorgan serving as co-lead underwriters. It has raised around $107 million in VC funding between 1997 and 2004, from firms like Crosspoint Venture Partners (28.4% pre-IPO stake), Foundation Capital (20.7%), Lehman Brothers Venture Partners (23%), JPMorgan Capital (5.4%), Focus Ventures, Globespan Capital Partners, Matrix Partners and Norwest Venture Partners. www.shoretel.com