Open source software company Instaclustr is said to be planning to list on the ASX in 2021.
The company was founded in 2013 by Ben Bromhead and Adam Zegelin.
Market experts estimate that its value could be $300m.
Instaclustr provides support for Apache Cassandra, a NoSQL open source database with users including Apple, Netflix, Spotify and Walmart.
It counts Bailador as an investor from 2016, along with Level Equity.
The company has grown at a rate of 70 per cent since launching in 2014.
Annual recurring revenue on Instaclustr’s managed platform is now at about $20m.
It has about 90 per cent of revenue that is generated outside Australia.
Instaclustr also partners with systems integrators such as Accenture and IBM, aiming to address the data management needs of the global enterprise market.
While the company’s technology operations are in Canberra, the global headquarters are in California, where the founders are now based alongside chief executive Peter Lilley.
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