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Machine data analytics software maker Splunk has filed for an IPO to raise up to $125 million. Just when you thought the big data market couldn’t get any steamer, boom, an IPO filing from one of the hottest company’s in the space. Splunk raised $40 million in funding from August Capital, JK&B Capital, Ignition Partners and Sevin Rosen Funds and now it’s pay back time.

According to the S-1, Splunk isn’t profitable yet. In the nine months ended Oct. 31, 2011, Splunk’s revenue was $77.8 million, up from $43.5 million the same period a year earlier. But the company reported a net loss of $9.7 million during that period, up from $2 million a year earlier, as it increased spending on sales and marketing.

Splunk’s top line revenue is growing quickly however. Its software is used to monitor and analyze real-time machine data such as logs, config files, messages and alerts on company servers or network devices or on machines hosted in the cloud. It’s customers include Credit Suisse, Bank Of America, Comcast, Salesforce, Zynga, LinkedIn, T-Mobile, Swisscom, Shutterfly, Heroku and the US Departments of Labor and Energy.