Dive Brief:

• Technology business management software provider Apptio filed to go public on Friday, according to a company announcement. 
• The company has raised about $136 million in funding from venture capital firms so far. 
• The 9-year-old Bellevue, Washington-based company plans to raise $75 million with the IPO, according to S-1 filings.

Dive Insight:

Apptio focuses on technology business management (TBM) software, which helps a company’s IT staff better manage business infrastructure technology and track costs. It also helps businesses track how much they are spending on cloud computing services. With its filing to go public, Apptio is illustrating its belief in the growth potential of the TBM market. 

"We believe the total addressable market for TBM solutions is large and largely unpenetrated," according to a company statement. "With a reasonable expectation of our ability to penetrate the market, we believe that the current total addressable market for our existing TBM solutions is approximately $6 billion."

The company had $129.3 million in sales and $41.0 million in net losses in 2015.

Apptio would be only the sixth technology IPO in 2016. Big Data integration software company Talend went public in July, and cloud company Twilio went public in June. Presidio and Dropbox are also rumored to be considering IPOs, a signal that the market for tech IPOs may be picking up steam.