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Envivio has filed to go public and raise as much as $69 million in a filing with the Securities and Exchange Commission.

The South San Francisco company specializes in video compression and internet protocol video networking technology. Its “TV without boundaries” technology enables service providers and content providers to offer high-quality video on the web. The company isn’t making money, so it seems like it’s trying to cash in on the frothy investment environment in Silicon Valley to raise some.

Among the parade filing for IPOs recently are Zillow, the real estate web site firm, and ZipCar, which went public last week.

Envivio’s rivals include Harmonic, RGB Networks and Cisco. The company has more than 220 customers in 50 countries. The company said that it generated revenue of $30 million, up from $16.3 million a year earlier. It reported a loss of $2.3 million, down from $9.2 million a year earlier. As of Jan. 31, 2011, the company had accumulated losses of $79 million.

Envivio said it plans to use the proceeds from the offering for working capital and general corporate purposes, including hiring more people. The company has raised more than $30 million from investors including PE firm HarbourVest and Crescendo Ventures. It has about $10 million in cash. The company was founded in 2000.

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