Following months of dismal speculation about tech IPOs spurring more rumors about an imminent bubble pop, we have yet another example to the contrary.
Software analytics company New Relic filed for an initial public offering on Monday.
New Relic's IPO announcement follows the public debut plans of Hadoop distributor Hortonworks,.
Much like Hortonworks, New Relic is keeping a lot of figures under wraps, such as the number of shares to be offered and the price range for the proposed offering.
As demonstrated by other major recent tech IPOs, such as a.k.a. the JOBS act.or , a company seeking to go public can file confidentially if it is valued at less than $1 billion, under the Jumpstart Our Businesses Act,
However, New Relic did note it plans to trade under the ticker symbol "NEWR."
Morgan Stanley, J.P. Morgan, Allen & Company and UBS Securities will act as joint book-running managers for the offering. JMP Securities and Raymond James & Associates have been tapped as co-managers.
The San Francisco-based company completed its most recent fundraising round in April, generating another $100 million in venture capital.
According to the tech brand's S-1 filed with the U.S. Securities and Exchange Commission on Monday, New Relic reported revenue of $26.1 million and $48.0 million for the six months ended September 30, 2013 and 2014, respectively, translating to year-over-year growth of 83 percent.
But that was on top of net losses ringing up to $18.6 million and $19.4 million for the six months ended September 30, 2013 and 2014, respectively.
As of September 30, 2014, New Relic affirmed it has "collected, stored, and analyzed over 690 billion data points daily across more than 4 million application instances and monitored user experiences on over a million website domains and from over one billion mobile application installs."
Founded in 2008, New Relic had over 250,000 users by the end of September as well as 10,590 paid business accounts.