Smartsheet Inc. is looking to go public, according to a filing with the Securities and Exchange Commission on Monday.
The Bellevue, Washington, provider of cloud-based project-management services that are used by many Fortune 500 companies expects to trade under the ticker "SMAR" on the New York Stock Exchange, according to its registration statement.
Though the company said in a separate statement that the number of shares and share price range have yet to be determined, the offering is expected to raise up to US$100mln, according to the filing.
It plans to use the proceeds to expand its workforce, fund growth strategies, invest in its data centre operations and acquire other businesses.
Smartsheet describes itself as a "leading cloud-based platform for work execution, enabling teams and organisations to plan, capture, manage, automate, and report on work at scale, resulting in more efficient processes and better business outcomes."
The company boasts more than 92,000 customers, ranging from Cisco Systems Inc. (NASDAQ:CSCO) to Starbucks Corp. (NASDAQ:SBUX).
For the full-year ended Jan. 31, 2018, Smartsheet booked sales of US$111.2mln with a net loss of US$49.1mln.
Morgan Stanley, J.P. Morgan Securities and Jefferies are joint book-running managers, while RBC Capital Markets is joint bookrunner. Canaccord Genuity, William Blair & Co. and SunTrust Robinson Humphrey Inc. are co-managers, Smartsheet said.