Atlassian has taken another big step towards an IPO

Atlassian co-CEOs Scott Farquhar and Mike Cannon-Brookes

Australian tech company Atlassian is getting ready to launch an IPO, hiring a gun CFO to get the company ready to go public.

Today the company announced it had recruited US real estate platform Trulia’s director and audit committee chairman Erik Bardman to take on the role of CFO, which has been vacant since last year when Alex Estevez relocated to South Carolina.

Atlassian CFO Erik Bardman. Image: Supplied.

Bardman has almost 30 years experience as a financial exec in both public and private companies, including General Electric and eBay.

Gearing up for an IPO, Atlassian said the company is looking at listing on the NASDAQ or the NYSE. When remains unclear, but observers believe that by the end of 2015 is the planned timeframe.

Farquhar said the appointment will help the $US3.3 billion enterprise software company execute on its long term goals as the company transitions from a high-growth startup into a more mature public business.

As the company expands into new markets co-founder Mike Cannon-Brookes said a strong leadership team with solid strategy and financial planning skills would be critical.

“[Bardman’s] private and public company experience will be a huge asset as we continue our growth trajectory as a private company but operate the business as public-market ready.

“That gives us the greatest flexibility to do what we’ve always done, which is to make decisions that are right for the long-term.”

Atlassian’s come a long way since university classmates Farquhar and Cannon-Brookes launched the company in 2002 using a credit card with a $10,000 limit.

“Our low-touch, high-volume business model that has driven over 10 years of double-digit revenue growth is not typical of an enterprise software company,” Farquhar said.

“Erik’s experience working with high-growth businesses that operate at a similar scale across products, customers and markets will be a great asset. We have our sights set on where Atlassian will be 10 years from now, not just next quarter or next year. Erik will play an important role in helping us get there.”

Today Atlassian’s team collaboration software is now used by more than 43,000 customers and millions of users. The company has over 10 years of profitability and reported $215 million in revenue for its fiscal year ending June 30, 2014.

“Atlassian is an amazing company with huge untapped opportunities and a 21st-century approach to the enterprise software business, which makes it the success it is today and will be going forward,” Bardman said.

“At our size and scale, rate of growth and demonstrated ability to manage the business to profitability, Atlassian has a financial model that is virtually non-existent in private companies. It’s exciting to join a company that is so well-positioned for this next phase of growth.”

Bardman is one of several recent executive appointments. In the last 12 months former Cisco executive Didier Moretti was appointed vice president and general manager of the company’s Service Desk business. Citrix veteran Bernardo de Albergaria also joined Atlassian as vice president and general manager of its Collaboration business.

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