Tintri lays out IPO plans

work_at_tintriTintri has moved to stress importance of its channel after setting out plans for its imminent initial public offering (IPO)

The storage virtualisation outfit is looking to raise $100 million by offering 8.7 million shares priced between $10.50 and $12.50.

In documents filed with the American Securities and Exchange Commission, Tintri said its own success relies heavily on its partner community.

Tintri said that channel sales accounted for 89 percent of all revenue in its last fiscal year, in which the vendor reported losses of $105.8 million.

“If our third-party channel partners fail to perform, our ability to sell and distribute our solution will be limited, and our operating results will be adversely affected,” the document stated.

“We depend on channel partners and distributors for a substantial majority of our sales. We also depend on our channel partners to manage the customer sales process and to generate sales opportunities.

“If our channel partners are unsuccessful in fulfilling our sales, managing the sales process or selling our solution, or we can’t enter into arrangements with or retain a sufficient high-quality, motivated partners in each of our sales regions, our ability to sell our solution will be adversely affected.”

Tintri has had a series of significant funding rounds since its inception in 2008, the largest being a $125 million Series F round in 2015.