MongoDB has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering (IPO). No pricing details were given in the filing, but the offering is valued up to $100 million, although this number is usually just a placeholder. The company intends to list its shares on the Nasdaq under the symbol MDB.

The underwriters for the offering are Morgan Stanley, Goldman Sachs, Barclays, Allen, Stifel, Canaccord Genuity and JMP Securities.

This company is the leading modern, general purpose database platform. Its platform unleashes the power of software and data for developers and the applications they build. Ultimately, management believes that software applications are redefining how organizations across industries engage with their customers, operate their businesses and compete with each other.

MongoDB built its platform to run applications at scale across a broad range of use cases in the cloud, on-premise or in a hybrid environment. The platform addresses the performance, scalability, flexibility and reliability demands of modern applications while maintaining the core capabilities of legacy databases. This allows software developers to build or modernize applications quickly and intuitively, making developers more productive and giving their organizations a competitive advantage.

At the end of July, 2017, this company had over 4,300 customers across a wide range of industries and in more than 85 countries, compared to over 1,700 and 3,200 customers as of January, 2016 and 2017, respectively. Its customers include over half of the Global Fortune 100 companies.

In terms of finances, MongoDB said the following in its report:

For the fiscal years ended January 31, 2015, 2016 and 2017, our total revenue was $40.8 million, $65.3 million and $101.4 million, respectively, representing year-over-year growth of 60% for fiscal year 2016 and 55% for fiscal year 2017. For the six months ended July 31, 2017, our total revenue was $68.0 million, representing a 51% increase over revenue for the six months ended July 31, 2016. We believe our net annual recurring revenue, or ARR, expansion rate, which has been over 120% for each of the last ten fiscal quarters, demonstrates the attractiveness of our platform to our customers.

The company noted that although it has not yet determined how it will allocate the net proceeds of this offering, management currently intends to use those net proceeds for working capital and other general corporate purposes.

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