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Cybersecurity startup Zscaler files for $100M IPO

Internet software and services provider Zscaler Inc. filed for an initial public offering of up to $100 million of its common stock.

The San Jose, Calif.-based company, which intends to list its stock on the Nasdaq Global Market under the ticker ZS, has not yet specified the number of shares or price range for the IPO.

The company intends to use the net proceeds for general corporate purposes, including working capital, sales and marketing activities, research and development, general and administrative matters and capital expenditures. The company may also use a portion of the net proceeds for the acquisition of, or investment in, technologies, solutions, products or businesses.

In September 2015, Zscaler secured $110 million in a series D funding round, including $25 million from Google Inc.'s Google Capital.

For the six months ended Jan. 31, Zscaler reported total revenue of $84.8 million, up from $56.2 million in the year-ago period. Net loss attributable to common stockholders was $23.0 million, or 49 cents per share, compared to a year-ago loss of $19.4 million, or 45 cents per share. The company provides cloud security services to data centers and other enterprise customers.

Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC are the lead book-running managers for the proposed offering. Bank of America Merrill Lynch, Barclays Capital Inc., Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC and UBS Securities LLC are serving as additional book-running managers, while Robert W. Baird & Co. Inc., BTIG LLC, Needham & Co. LLC and Stephens Inc. are the co-managers.