Tintri pins hopes on partners as IPO plans revealed

Vendor set to offer over 8.7 million shares priced between $10.50 and $12.50

Tintri has emphasised the importance of its channel community after laying out plans for its imminent initial public offering (IPO)

The storage virtualisation start-up is looking to raise $100m by offering 8.7 million shares priced between $10.50 and $12.50.

In documents filed with the American Securities and Exchange Commission, Tintri said its own success depends largely on its partner community.

Tintri said that channel sales accounted for 89 per cent of all revenue in its last fiscal year, in which the vendor reported losses of $105.8m.

"If our third-party channel partners fail to perform, our ability to sell and distribute our solution will be limited, and our operating results will be adversely affected," the document stated.

"We depend on channel partners and distributors for a substantial majority of our sales.

"We also depend upon our channel partners to manage the customer sales process and to generate sales opportunities.

"To the extent our channel partners are unsuccessful in fulfilling our sales, managing the sales process or selling our solution, or we are unable to enter into arrangements with, and retain a sufficient number of high-quality, motivated partners in each of our sales regions, our ability to sell our solution will be adversely affected."

Tintri has had a series of significant funding rounds since its inception in 2008, the largest being a $125m Series F round in 2015.