Demandware files for a $100 mln IPO

(Reuters) - Demandware Inc, which provides cloud-based e-commerce products, filed with U.S. regulators on Friday to raise up to a $100 million in an initial public offering of its common shares.

• The Burlington company posted its first profit in five years in 2010. 
• Backed by venture capital firms North Bridge and General Catalyst Partners, it had 75 customers as of March 31, 2011.

In a filing with the U.S. Securities and Exchange Commission, the company said Goldman Sachs & co, Deutsche Bank Securities, William Blair & Company, Oppenheimer & Co, Canaccord Genuity and First Analysis Securities Corp would underwrite the IPO.

Burlington, Massachusetts-based Demandware was founded by Stephan Schambach in 2004, and posted its first profit in five years in 2010.

Demandware, which is backed by venture capital firms North Bridge and General Catalyst Partners, had 75 customers as of March 31, 2011.

The company plans to list its shares on the New York Stock Exchange under the symbol DWRE.

The filing did not reveal the number of shares the company planned to sell or their expected price.