Bentley Systems has confidentially submitted a draft registration statement with the Securities and Exchange Commission (SEC) to conduct an initial public offering of its Class B common stock. In other words the company is just starting the process of going for an IPO. As of this writing there is no word on the size of the offering, or the timing. Now is a better time than ever for Bentley to file. The company is an underappreciated competitor in the CAD world. The company self-publishes their financial reports and demonstrates consistent if not always huge growth.