Dynatrace, a Cisco and Broadcom rival, is going public in an IPO that could raise as much as $300 million

Dynatrace, which helps businesses track the performance of their software applications, filed to go public on Friday.

Dynatrace is looking to raise $300 million in an initial public offering underwritten led by Goldman Sachs, JP Morgan and Citi, according to a filing with the Securities and Exchange Commission.

The Waltham, Massachusetts-based company said it plans to list on the New York Stock Exchange under the ticker symbol "DT."

Dynatrace, which was founded in 2005, offers software that detect and diagnose issues in business applications. Dynatrace is one of the leading players in this market, where it competes with Cisco and Broadcom, according to analyst group Gartner.

Dynatrace posted revenue of $431 million in its 2019 fiscal year which ended March 31, up 8% from the previous year, according to the filing. The company reported a net loss of $116 million in FY 19, compared to a profit of $9 million the previous year.

Last month, Dynatrace, which is led by CEO, John Van Siclen, was named the company with the best leadership team in the US, based on a survey by Comparably, a website that monitors workplace culture and compensation.

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