Nutanix Said to Start IPO Roadshow as Soon as September

Nutanix Inc., the maker of software for data centers, aims to start its initial public offering roadshow as soon as next month, according to people familiar with the matter.

The company first publicly filed for its IPO in December with a $200 million placeholder, which is an amount used to calculate fees that may change. The timing for the roadshow isn’t final and could be delayed several weeks depending on market conditions, said the people, who asked not to be identified because the matter is private.

The offering would be one of only a handful of venture capital-backed technology companies to go public in the U.S. this year. Only four such companies have listed this year, raising a combined $455 million compared with 11 companies that raised $1.8 billion in the same period last year, according to data compiled by Bloomberg.

A spokesman for Nutanix declined to comment.

Nutanix sells technology for storing and analyzing data on commodity hardware. The company last raised money privately in August 2014 at a valuation of about $2 billion -- double the valuation it fetched seven months earlier.

LightSpeed Venture Partners and Khosla Ventures are the two biggest shareholders, according to the prospectus, with stakes of 23 percent and 11 percent, respectively.

The San Jose, California-based company posted a 90 percent increase in sales to $241 million in the year-ended July 31, 2015, according to its IPO prospectus. Even so, the company has yet to report a profit.

Nutanix has applied to list on the Nasdaq Global Select Market under the symbol NTNX. Goldman Sachs Group Inc., Morgan Stanley, JPMorgan Chase & Co. and Royal Bank of Canada are leading the deal.

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