Nutanix, a MicroVentures portfolio company, filed an S-1 just before Christmas, setting the wheels in motion for a possible IPO in 2016. Known for its hyperconverged infrastructure technology, Nutanix has developed enterprise storage and computing solutions that run cloud-based workloads for some of the largest enterprises in the world, including Nasdaq, Best Buy, Yahoo, and Toyota Motors of North America.

The company has seen strong customer growth and had more than 2,100 customers globally at the end of October 2015. The popularity of its platform has inspired a wide range of notable technology partnerships, including principal OEM relationships with Dell and Lenovo. The company’s “Technology Alliance” partners include Citrix, Microsoft, Eaton, Avaya, Juniper Networks, and more than 30 others.

The S-1 financials indicate that Nutanix’s revenue grew 90% to $241.4 million last year, while billings, a non-GAAP measure of sales activity, grew 104% to more than $308.5 million. Equally notable is the company’s adjusted gross margin expansion. Adjusted gross margin, which removes stock-based compensation, stood at 60% at the end of October 2015, up from 13% in 2013.

Nutanix, which was valued at $2 billion at its last financing round in August 2014, is looking to raise $200 million in the IPO, which will be led by Goldman Sachs and Morgan Stanley. Stay tuned to the MicroVentures blog for updates on Nutanix and our other MicroVentures portfolio companies.