Business process management firm Appian Corp. is joining the rush to the stock market by enterprise software companies, announcing Friday that it has filed for an initial public offering.
According to the S-1 filing, Appian is seeking an IPO of common stock on the Nasdaq under the ticker symbol “APPN.” The company did not disclose how many shares they will be offering or a price guidance at this stage, though it did note it’s looking to raise $86 million. Morgan Stanley & Co. LLC, Goldman, Sachs & Co., and Barclays Capital Inc. are named as book runners for the float, with Pacific Crest Securities, Canaccord Genuity Inc., and Cowen and Co. listed as co-managers.
Founded way back in 1999, Appian offers a software-as-a-service platform that assists enterprises in improving their business processes and case management by connecting various stakeholders. Specifically, the company’s product unites users with all their data, processes and collaborations – in one environment, on any mobile device, through a social interface.
The company booked…