Sumo Logic CEO Ramin Sayar. Photo credit: Sumo Logic

Sumo Logic, a Redwood City, California-based cloud management software startup, has submitted a formal filing to go public with the U.S. Securities and Exchanges Commission. Sumo Logic is seeking to raise $100 million on the public markets, that amount being a placeholder figure that’s prone to change. Investment banks Morgan Stanley, J.P. Morgan, Jefferies, and RBC Capital Markets are serving as lead underwriters for the company’s initial public offering (IPO).

Sumo Logic is looking to go public a decade after its founding. As a private company, Sumo has raised $340 million in known funding from investors including notable names like Tiger Global, Franklin Templeton, Accel, Sequoia Capital, DFJ Growth, and Greylock. The company is known to be privately valued at more than a billion dollars by investors.

In its most recent fiscal year, Sumo Logic recorded $155 million in revenues, up 50% from the previous year. Losses for the same period came at $92 million, compared to $48 million in the year before. As of April end, Sumo reported having $114 million cash on its balance sheet. Currently, the company has more than 2,100 enterprise customers globally.