Portland, Oregon-based TripWire plans to raise $86.25 million by going public on the Nasdaq under the ticker symbol TPWR.
J.P. Morgan and Thomas Weisel Partners will share the underwriting role.
TripWire builds enterprise security and privacy applications that make it a lot easier for companies to adhere to regulatory standards such as HIPAA, and best practices rules like FISMA. Security and compliance are considered fairly recession-proof industries, because of recession-proof Federal regulations and the regulators who enforce them.
According to peHUB, TripWire, founded in 1997, has raised over $110 million in VC funding. Current shareholders include Advanced Technology Ventures (22.38% pre-IPO stake), Bessemer Venture Partners (10.06%), International Venture Partners (8.71%) and Industry Ventures (5.7%).