“Internet of things”-focused cybersecurity firm ForeScout Inc. is going public.

The company announced Monday that it had filed its paperwork with the U.S. Securities and Exchange Commission for an initial public offering. The number of shares to be offered in the IPO and their price are described as having “not yet been determined,” though the company did say it was looking to raise $100 million, a common placeholder figure.

Founded in 2000, ForeScout offers a cybersecurity service that allows enterprises to see all sorts of devices the instant they connect to the network. The company’s platform integrates with leading network, security, mobility and information technology management products to allow users to control devices when they are connected to the network and orchestrate information sharing and operation among various different types of security tools to accelerate incident response.

“We have pioneered an agentless approach to network security to protect organizations against the emerging threats that exploit the billions of devices connected to organizations’ networks,” the company said in its S-1 filing. “The traditional approach of relying on a corporate-installed software agent to secure a device has significant limitations in today’s world as devices are developed using a wide variety of platforms and operating systems that cannot support agents.”

By the numbers, ForeScout reported revenue of $166.8 million in 2016, up from $126 million in 2015, showing continued growth with revenue of $90.6 million for the first six months of 2017. Still, losses have continued to grow as well, with the company reporting losses of $27.3 million in 2015, $74.8 million in 2016 and $47.7 million to July 31 this year.

ForeScout last took venture capital in January 2016, when it raised $76 million, and it has raised about $156 million to date. Previous investors include Accel Partners, Amadeus Capital Partners, Aspect Ventures, BCS Growth Fund, Cross Creek Advisors, Founders Circle Capital, ITOCHU Corp., Meritech Capital Partners, Oxx. Pitango Venture Capital and Wellington Management.

As of its last round, the company was described as having a valuation of “$1 billion or more.” Although the valuation for the IPO has not been disclosed, it would be fair to guess that it won’t be lower than that. A date has not been set. ForeScout will list on the NASDAQ under the stock symbol “FSCT.”

Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, and Citigroup Global Markets Inc. are acting as lead book runners, with BofA Merrill Lynch and UBS Securities LLC assisting.

Image: ForeScout