Austin-based cybersecurity firm SailPoint said it is aiming for a valuation as high as $11.5 billion for its upcoming IPO.

Austin-based cybersecurity company SailPoint will once again become a publicly traded company. As it starts its roadshow for its upcoming initial public offering, the company is seeking to raise about $1 billion by pricing about 50 million shares at $19 to $21 each. It will likely trade on the Nasdaq under the ticker "SAIL."

SailPoint said on Tuesday it was targeting a valuation of up to $11.5 billion in its New York flotation, as the cybersecurity firm looks to go public again in the United States after more than two years.

SailPoint Inc., an enterprise security software company owned by Thoma Bravo, and shareholders are seeking to raise as much as $1.05 billion in its initial public offering.