Hadoop company Hortonworks has filed to go public

Fast-growing Hadoop distribution vendor Hortonworks has filed for an initial public offering.

“We are aggressively moving toward an IPO,” Hortonworks chief executive Rob Bearden told VentureBeat in an interview earlier this year. The company provides a distribution of the Hadoop open-source software for storing, processing, and analyzing different kinds of data.

Hortonworks will look to raise $100 million and trade on the Nasdaq with the symbol HDP, according to the official filing with the U.S. Securities and Exchange Commission.

Credit Suisse Securities and Goldman Sachs are the lead underwriters for the IPO, according to a statement from the company.

The filing does not provide a price range for the shares Hortonworks will sell, according to the statement.

The company has been investing big to grow, and indeed the company had a net loss of $86.7 million in the first nine months of 2014, according to the filing. It brought in $33.3 million in support subscriptions and professional services revenue for that period, the filing states. Sales and marketing expenses for that period? $44.5 million.

For the year ending on Sept. 20, net loss came in at $101.5 million, with $41.5 million in revenue.

The company reported having 292 customers on Sept. 30.

The move to go public follows Intel’s huge investment in Hadoop vendor Cloudera earlier this year. Meanwhile another competitor, MapR, announced a big funding round earlier this year as well.

But this year enterprise software and hardware giant HP invested in Hortonworks, which spun out of Yahoo in 2011.

Yahoo now owns more than 5 percent of Hortonworks’ capital stock, as does publicly traded data-warehouse seller Teradata, according to the filing. Other investors include Benchmark and Index Ventures.

In addition to dealing with competition from Hadoop providers like Cloudera and MapR, Hortonworks says in today’s filing that in the future database companies like DataStax and MongoDB “may expand their products and services to compete with us.”

A Hortonworks spokesman declined to comment on the news.