Australia's Atlassian files for US IPO

The filing does not indicate the size or pricing of the offering. Atlassian has raised $210 million across two rounds, according to Crunchbase, each one a secondary sale. The most recent of these was a $150 million commitment from T. Rowe Price and Dragoneer at a reported valuation of more than $3 billion. Accel, which made a partial exit in the second round, initially invested $60 million in 2010.

Atlassian was founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, who met while studying at the University of New South Wales in Sydney. Each of them holds a 37.2% interest in the business. They serve as co-CEOs, while Jay Simons, the company's president, has 2%.

The company develops products aimed at software developers and project managers. Its core offering is JIRA, which is used to manage team workflow. Atlassian has also created a host of other applications, including private chatroom service HipChat, workplace collaboration platform Confluence, and various systems integration and optimization services.

Atlassian has more than five million monthly active users of its products and in excess of 51,000 customers, defined as organizations with at least one active and paid license or subscription for which they paid more than $10 per month. Customers range from small and medium-sized enterprises to 79 members of the Fortune 100.

The firm has been profitable for each of the last 10 financial years. Revenue came to $319.5 million for the 12 months ended June 2015, up from $215.1 million the previous year. Maintenance accounts for approximately half of revenue, followed by subscriptions and perpetual licenses. Net profit fell to $6.77 million in 2015 from $18.9 million in 2013, largely due to a substantial increase in R&D expenditure.

Atlassian is the 27th largest unicorn - private start-ups with valuations of $1 billion or more - globally and the ninth largest in Asia Pacific, according to CB Insights.

Goldman Sachs and Morgan Stanley are joint lead managers for the offering.

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• Accel Partners
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