Rally Software Files for $70 Million Initial Public OfferingLee Spears
Rally Software Development Corp., the provider of tools and services for managing software-development projects, filed for a U.S. initial public offering.
The Boulder, Colorado-based company used a placeholder amount of $70 million, which may be subject to change, according to a regulatory filing today. Deutsche Bank AG and Piper Jaffray Cos. are leading the offering, the filing shows.
Rally, which counts 36 Fortune 100 companies as customers, is planning the offering as it expands through acquisitions and develops new service offerings. Last month Rally said it bought Helsinki, Finland-based Flowdock, a social collaboration hub.
Rally, led by Chief Executive Officer Timothy Miller, generated $52.6 million in revenue in the 12 months through October. Its investors include Greylock Partners, Mobius Technology Ventures and Vista Ventures, the filing shows. The company applied to list on the New York Stock Exchange under the symbol RALY.