Reval Holdings, which provides treasury and risk management on-demand software, filed on Friday with the SEC to raise up to $75 million in an initial public offering. The company serves over 550 clients, which include Microsoft, Visa and Ford, with a 90% retention rate. Sales increased 40% to $45 million in 2011, but the operating loss doubled, from $8 million to $19 million.
The New York, NY-based company was founded in 1999. Venture capital firms North Bridge Venture Partners and Commonwealth Capital Ventures together own 93% of shares prior to the offering. BofA Merrill Lynch and Stifel Nicolaus Weisel are the joint bookrunners on the deal.
