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By Heather Somerville
SAN FRANCISCO, Nov 9 (Reuters) - Atlassian Corp, a software company last valued at $3.3 billion, filed on Monday for an initial public offering.
Atlassian, which has offices in Sydney and San Francisco, is a rare tech company that has not raised any venture capital funding to support its operations and has been profitable for the last 10 years, according to its filing with the U.S. Securities and Exchange Commission.
Founded in 2002, Atlassian makes software products for businesses to collaborate, communicate and manage their operations more effectively.
For the fiscal year ended in June, it had profit of $6.8 million, about a third of what it made in the prior year. The company said the decline was due to increased investment in research and development.
Profit for the three months ended Sept. 30 rose 42 percent from the same period a year ago.
Atlassian attributes its lengthy history of profitability to not having a traditional sales team and spending less on marketing than other enterprise software companies. It sells its product mostly through the web.
The company had revenue of $319.5 million for the last fiscal year, a 48.5 percent increase from the prior year. Its roughly 51,000 customers, spread across more than 160 countries, include NASA, Tesla Motors TSLA.O and the U.S. Department of Treasury.
Atlassian joins payments company Square SQ.N in high-profile, end-of-year public filings, capping off an otherwise lackluster year for tech IPOs. Square is expected to begin trading Nov. 19. Atlassian has not given any indication of its timing.
The company, which has more than 1,200 employees, will trade on the Nasdaq under the ticker symbol "TEAM." It has not yet said how many shares it will sell or at what price.
Primary shareholders are co-founders and co-Chief Executives Scott Farquhar and Michael Cannon-Brookes, who each own 37.2 percent of the company.
Atlassian raised about $150 million in a secondary offering in 2014 to allow long-time employees to sell their shares. None of that funding went to support operations, according to the company. (Editing by Leslie Adler)