Software company Gomez files for initial public offering

The Lexington, Mass.-based company said it could raise up to $80.5 million, but this figure was estimated solely to calculate the registration fee and may change.

Gomez plans to use proceeds for working capital and other general corporate purposes, such as developing new services and features.

Gomez provides on-demand software that enable customers to test their Web applications while in development and monitor those applications after deployment. The company offers its services on an annual subscription basis.

As of March 31, Gomez had more than 2,000 customers worldwide, including Yahoo Inc., JPMorgan Chase & Co., Expedia Inc., Orbitz Worldwide Inc., Starwood Hotels & Resorts Worldwide Inc., Home Depot Inc. and Adobe Systems Inc.

Among the company's main competitors is Hewlett-Packard Co., according to the filing.

Gomez is led by Jaime W. Ellertson, who has served as president and chief executive since December 2005. Prior to joining the company, the 50-year-old Ellertson was president and CEO of software company S1 Corp.

For the year ended December 31, the company reported a loss of $4.5 million, compared with a loss of $1.7 million in the prior year. Revenue rose 50 percent to $32.6 million from $21.7 million.

Credit Suisse and Deutsche Bank Securities are serving as lead managers of the deal. William Blair & Co., Wachovia Securities and Pacific Crest Securities are also underwriting the offering.

Gomez plans to list its shares on the Nasdaq Global Market under the symbol "GOMZ."