VC-Backed TripWire Files for IPO

TripWire Inc., a Portland, Ore.-based provider of IT security and compliance automation software solutions, has filed for an $86.25 million IPO. It plans to trade on the Nasdaq under ticker symbol TPWR, with J.P. Morgan and Thomas Weisel Partners serving as co-lead underwriters.

The company reports $74 million in 2009 revenue, compared to $62 million in 2008 revenue. Its net income rose to $19.58 million from $5.86 million.

TripWire has raised over $110 million in VC funding. Current shareholders include Advanced Technology Ventures (22.38% pre-IPO stake), Bessemer Venture Partners (10.06%), International Venture Partners (8.71%) and Industry Ventures (5.7%).