Marketing Software Provider HubSpot Files for IPO

Marketing software provider HubSpot Inc filed with U.S. regulators on Monday for an initial public offering of common stock.

The Cambridge, Massachusetts-based company listed Morgan Stanley, UBS and JP Morgan among the underwriters to the IPO.

HubSpot, which runs software that helps local businesses with online advertising and marketing, had more than 11,000 customers as of June 30.

The company counts funds affiliated with Sequoia Capital, Charles River Ventures and General Catalyst Partners among its stockholders.

The filing included a nominal fundraising target of about $100 million, but did not reveal how many shares HubSpot planned to sell.

The company intends to list its common stock on the New York Stock Exchange under the symbol "HUBS".

HubSpot's revenue more than doubled to $77.6 million from 2011 to 2013, while its net loss attributable to common stockholders grew to $34.3 million from $25.5 million.

Marketing software company Yodle Inc, backed by investors such as Draper Fisher Jurvetson, Bessemer Venture Partners and Jafco Technology Partners, also filed for an IPO in July.

Other recent public offerings in the sector include Tremor Video Inc, YuMe Inc, Rocket Fuel Inc and Criteo SA.

HubSpot intends to use the proceeds from the IPO for research and development, acquisitions and general corporate purposes.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

(Reporting by Neha Dimri in Bangalore; Editing by Kirti Pandey and Simon Jennings)