Workiva Inc. has set its filing terms with the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO). The estimated maximum offering price per share was $15, and a total of 8.28 million shares were registered, including an overallotment option of 1.08 million shares, valuing the total offering at over $124 million. The company will list on the New York Stock Exchange under the symbol WK.

The underwriters for the offering were Morgan Stanley, Baird, Raymond James, Credit Suisse and Stifel.

Workiva has pioneered a cloud-based and mobile-enabled platform for enterprises to collaboratively collect, manage, report and analyze critical business data in real time. The software platform, Wdesk, allows users to integrate and control all of their business data, regardless of format or location, with innovative live-linking technology.

Customers can gain insights based on their trusted data, which enables better real-time decision-making. Additionally, customers deploy these solutions to serve as a single system of record for critical data, to reduce risk and operational costs, and to increase efficiency in business reporting. At the end of September, the company provided solutions to over 2,100 enterprise customers, including more than 60% of both the Fortune 500 and Fortune 100.

Customers include big-name companies such as Philip Morris, Kinder Morgan, Viacom, J.P. Morgan, Eli Lilly, Boeing, Tyco, CenturyLink, Avis Budget Group, Walmart and AR Capital.

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Workiva has had high revenue growth since the release of its first solution in March 2010. Revenue for 2013 was $85.2 million, with a net loss of $25.8 million, compared to the previous year, which had revenue of $52.9 million and a net loss of $30.4 million. In 2011, Workiva had revenue of $14.9 million and a net loss of $13.6 million. Over this time, the company had a 139.3% compound annual growth rate. For the nine months ended in September, revenue grew 34.1% to $82.6 million from $61.6 million in the previous year, and the net loss grew to $28.4 million from $22.5 million. Approximately 77% of revenue in 2013 was derived from subscription and support fees, with the remainder from professional services.

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