Application performance management firm AppDynamics Inc. could become the tech industry’s first initial public offering in the new year, as the company submitted its S-1 regulatory filing Wednesday.

AppDynamics is looking to raise $100 million on a valuation of approximately $1.9 billion, according to Marketwatch. Underwriting the IPO are Morgan Stanley Goldman Sachs, J.P. Morgan, Barclays, UBS, Wells Fargo, William Blair and JMP Securities.

Founded in 2008, AppDynamics offers a platform that allows software businesses to analyze and optimize digital business performance in real time, delivering the ability to proactively monitor, manage and optimize the most complex software environments. Its platform is claimed to be able to dynamically collect millions of performance data points across applications and infrastructure, and then apply intelligence to identify performance anomalies, enable automatic fixes and continuously measure business impact.

AppDynamics says its Application Intelligence Platform does this in real time, in production, with cloud or on-premise deployment flexibility. As SiliconANGLE explained when the company last raised a round in December 2015, the AppDynamics platform differs from traditional application monitoring approaches. It uses agents and bots to identify bottlenecks and trace them back to their source across servers, mobile platforms and the cloud.

Despite increasing revenue to $158.4 million in the nine months to Oct. 31, up from $102.7 million for the same period in 2015, AppDynamic’s losses grew too, totaling $95 million for the first nine months of 2016, a little more than the $92.3 million loss a year ago. Most of the company’s revenue comes from subscriptions, but licenses and professional services are a growing part of the business. Based in San Francisco, AppDynamics said in its filing that it had 1,186 employees and 1,975 customers as of October.

Speculation that the company would go public first emerged in November this year. Coming into the filing, AppDynamics had raised $364.5 million over six rounds from investors including Altimeter Capital, General Atlantic, Battery Ventures, ClearBridge Investments, Sands Capital Ventures, Institutional Venture Partners, Kleiner Perkins Caufield & Byers, Greylock Partners and Lightspeed Venture Partners.

Image courtesy of AppDynamics