Dev

Rally Software preps for $70M IPO

Agile software development company Rally has just filed an S-1 registration statement with the SEC, apparently preparing the shop for a $70 million IPO.

Deutsche Bank and Piper Jaffray will act as lead book-running managers for the offering, the company said today in a statement on the news. Needham & Company, JMP Securities, and William Blair & Company will act as co-managers.

We don’t have a ton of information yet on dates, prices, etc., but here’s the S-1 for your perusal:

The company makes Rally Enterprise and Rally Community; both products focus on agile application lifecycle management for software-building developers. In addition to selling these on a subscription basis, Rally also offers training; its customers include Sony and HP, among others.

Rally was founded in 2002; it has taken more than $70 million in venture capital over six rounds of institutional funding. Investors in the company include Greylock Partners, Mobius Venture Capital, Boulder Ventures, and Meritech Capital Partners.

Rally is headquartered in Boulder, Colo., and has offices in Seattle, London, Melbourne, Amsterdam, and Raleigh. Its total employee headcount is 368, and it claims around 154,000 customers


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