Cybersecurity firm FireEye Inc announced the filing of documentation to conduct an initial public offering in order raise funding of approximately US$175 million. FireEye, headed by former McAfee Chief Executive Officer Dave Dewalt, is one of the fastest-growing cybersecurity firms in the country today.

The California-based company caters to the markets with technology that is used by businesses for protection against malicious adware and software.  The FireEye technology is billed as one of the most effective cybersecurity softwares used against malware as compared to the traditional anti-virus programs developed by McAfee and Symantec Corp.  The cybersecurity company was able to raise an estimated US$100 million from venture funding from investors Juniper Networks Inc, Norwest Venture Partners, Sequoia Capital, Silicon Valley Bank and Goldman Sachs.

Dave Dewalt said he intends to focus on the growth over profitability structure for FireEye. He said that he plans to hire more marketing and sales staff all across the globe to push Dewalt's vision of global expansion. Dewalt resigned as McAfee's president in 2011 after he engineered McAfee's sale to Intel Corp for an estimated US$7.7 billion.

Goldman Sachs, Barclays, JP Morgan and Morgan Stanley were hired to act as the lead underwriters for the offering. UBS Securities and BofA Merrill Lynch will act as the bookrunners alongside Nomura Securities which act as a co-manager for the deal.