Carbon Black files for $100m IPO

Endpoint security vendor steps up plans to list publicly after reportedly starting the process in 2016

Cybersecurity vendor Carbon Black is looking to raise $100m after filing for an initial public offering.

Carbon Black, which was formerly known as Bit9, is set to float on New York's NASDAQ stock exchange after reports of an IPO first surfaced in October 2016.

The endpoint security vendor is the latest in a string of tech firms to opt for a public listing this year, with other examples including Avaya, Dropbox and Pivotal.

In a filing with the Securities and Exchange Commission, Carbon Black revealed that its revenues for the 12 months ending 31 December 2017 stood at $149.3m, up 42 per cent on the previous year, along with a net loss of $55.8m.

Carbon Black said in the filing that it is increasingly relying on partners to bring in new business.

During the three months ending 31 December it said that 94 per cent of its "new and add-on" sales came through channel partners.

"We rely on channel partners such as managed security service providers, incident response firms and security-focused value added resellers, to generate a significant portion of our revenue," it said.

"We expect to continue to focus on generating sales to new and existing customers through our channel partners as a part of our growth strategy."