Bandwidth Inc., a privately held telecommunications company based in Raleigh, increased the amount it wants to raise in its initial public offering to $101.2 million, up 19 percent, according to a filing with the Securities and Exchange Commission.

The company’s amended Form S-1 includes a proposed offering price per share of $22. The company plans to list on Nasdaq under the ticker BAND.

Bandwidth plans to use the proceeds from the offering for working capital, the expansion of its sales staff, research and development, and for strategic acquisitions. The company does not have any existing agreements or commitments for any acquisitions.

Bandwidth previously filed a Form S-1 on Oct. 13, in which it listed an amount of $85 million to be raised and did not disclose a proposed stock price.

The increased amount of money to be raised in the IPO signals strong investor interest in the offering.

Bandwidth was founded in 1999 by co-founder and Chief Executive Officer David Morken. It is a cloud-based communications platform serving small to large enterprises in the United States.

It offers a range of products in voice, messaging, 9-1-1 access, and phone services supported by its own IP voice network.