Hyperconverged hardware provider Nutanix filed its long-awaited IPO on Monday, looking to raise up to $209.3 million from the issuance of 16.1 million shares of Class A common stock at an IPO price of $11 to $13 per share.

Nutanix Inc. pioneered "hyperconverged" hardware architecture, where storage and compute are combined in servers. Cloud is driving the architecture's popularity. (See Nutanix Takes Hyper-Convergence Downscale.)

In the S-1 statement that Nutanix filed with the SEC Monday, the company revealed some intriguing financial tidbits: Revenue growth has averaged 17% quarterly for the last eight fiscal quarters, growing to $139.8 million in the quarter ending July 31, 2016, from $46.1 million in the quarter ending Oct. 31 2014.

Annual basis revenue is $444.9 for fiscal 2016, up from $127.1 million in 2014. 2016 growth was 84% and 2015 growth was 90%. Net losses for 2016, 2015 and 2014 were $168.5 million, $126.1 million and $84 million, respectively.

Nutanix had announced its IPO in December, but put it off seeking more favorable economic conditions.

The underwriters include Goldman Sachs & Co. , Morgan Stanley and JP Morgan. Goldman loaned $75 million to Nutanix in April.

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The IPO valuation is $1.76 billion, down from the $2 billion implied by the company's last funding round in August 2014, according to MarketWatch.

Nutanix acquired PernixData and Calm.io late last month. PernixData develops data acceleration and analytics technology, and Calm.io develops DevOps automation.

Launched in 2009, Nutanix faces increased competition from incumbent vendors, as Hewlett Packard Enterprise , Cisco Systems Inc. (Nasdaq: CSCO), VMware Inc. (NYSE: VMW) and Dell Technologies (Nasdaq: DELL)-backed VCE all have their own hyperconverged offering. Nutanix also faces competition from startup SimpliVity.

— Mitch Wagner, , Editor, Light Reading Enterprise Cloud