Yet again, a fast-growing tech company has struck gold in the IPO market. The latest is LogMeIn. Priced at $16 per share – and raising about $107 million – the shares have spiked 25% in today's trading (the initial price range was $14 and $16).

LogMeIn develops remote-connectivity business applications – primarily for small and medium-sized businesses. Some of the functions include: PC support, file sharing, backups and so on.

There is nothing to download; instead, LogMeIn's applications are web-based. This makes it easier to upgrade the different versions and as well as allow for affordable price points (there is no need for upfront technology costs or expensive consulting services).

It's been a long road for LogMeIn, which develops web-based business software. The company filed for an IPO back in January 2008. Of course, since then the financial system went haywire.

But, things are getting back on track. For example, this week LogMeIn actually set the initial terms for its public offering: a price range of $14-$16 for 6.67 million shares.

Last year was fairly robust for on-demand software IPOs, as seen with companies like NetSuite Inc. (NYSE: N).

Well, Wall Street wants to give more deals for investors to chomp on. This week, LogMeIn filed to go public. The company develops solutions for remote-connectivity for IT systems, such as for small and medium-sized businesses (SMBs).

The company is getting traction. Over the past year, the customer base jumped from 48,000 to 92,000. For the first nine months of 2007, revenues spiked 151% to $18.4 million (although, the company is still losing money).

Then again, LogMeIn has a robust free version of its software, which allows for a seamless upgrade to a premium offerings (the business model is based on subscriptions that range from $40 to $1,900 per year).

It also helps that the LogMeIn platform is quite scalable. That is, it connects more than 4.2 million computers. Oh, and the company has a key deal with Intel Corp. (NASDAQ: INTC).

The lead underwriters on the IPO include Lehman Brothers (NYSE: LEH) and JPMorgan Chase (NYSE: JPM). The proposed ticker is LOGM.

You can see the prospectus at the SEC website. Also, visit DealProfiles.com to check out other recent IPO activity.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements.