Bentley Systems Inc., the privately held vendor of infrastructure design and management software, initiated the process of going public on July 7 by filing a confidential draft registration statement with the federal Securities and Exchange Commission to review the submission.

If approved, Bentley will be allowed to conduct an initial public offering of its Class B common stock.

The company made a similar filing in 2002, valued at $172.5 million but withdrew it, citing poor market conditions.