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Customer engagement platform Braze sets terms for $460 million IPO

November 8, 2021

Braze, which provides a cross-channel customer engagement platform, announced terms for its IPO on Monday.

The New York, NY-based company plans to raise $460 million by offering 8 million shares (16% secondary) at a price range of $55 to $60. At the midpoint of the proposed range, Braze would command a fully diluted market value of $5.9 billion.

Braze states that it is a leading comprehensive customer engagement platform that powers customer-centric interactions between consumers and brands. Using Braze's platform, brands ingest and process customer data in real time, orchestrate and optimize contextually relevant, cross-channel marketing campaigns, and continuously evolve their customer engagement strategies. As of July 2021, the company had more than 1,000 customers globally. Its platform enabled interactions with 3.3 billion monthly active users via its customers' apps, websites, and other digital interfaces in July 2021, up from 2.3 billion in January 2020 and 1.6 billion in January 2019.

Braze was founded in 2011 and booked $186 million in revenue for the 12 months ended July 31, 2021. It plans to list on the Nasdaq under the symbol BRZE. Goldman Sachs, J.P. Morgan, Barclays, Piper Sandler, and William Blair are the joint bookrunners on the deal. It is expected to price during the week of November 15, 2021.