SciQuest, which offers on-demand software that allows organizations to improve procurement of indirect goods and services from suppliers, filed on Friday with the SEC to raise up to $75 million in an initial public offering. The Cary, NC-based company, which was founded in 1995, went public in 1999 (then known as SciQuest.com) before venture firms Intersouth and Trinity Ventures took it private again in 2004. SciQuest's current target markets are higher education, life sciences, healthcare and state and local governments; it serves more than 160 customers in 16 countries, according to the SEC filing. The company booked a profit of $2.6 million on $36 million in sales last year and plans to use roughly half its IPO proceeds to redeem preferred stock. SciQuest plans to list on the NYSE under the symbol SQI with Thomas Weisel as the lead underwriter on the deal. Pricing terms and timing were not disclosed.
