Customer experience management software company Sprinklr Inc. filed its documents on May 28 with the United States Securities and Exchange Commission for an initial public offering.
Founded in 2009, Sprinklr provides cloud services that large enterprises use to manage interactions with customers. The company offers five services for managing customer-facing activities including marketing, technical support, and product feedback collection, with thousands of features to include.
As reported when it was last raised $ 200 million from a valuation of $ 2.7 billion in September, Sprinklr includes support for marketing and customer services. For marketing departments, Sprinklr offers tools to create promotional materials, launch advertising campaigns and analyze the impact of their work. For customer services, the company sells tools to speed up repetitive tasks such as assigning support requests to team members.
The business management software also offers machine learning capabilities across its portfolio that can help with tasks such as customer analysis.
Sprinklr has an impressive lineup of leading corporate clients. Notable clients include Microsoft Corp., Cisco Systems Inc., Samsung Electronics Co. Ltd., Verizon Communications Inc., Bharti Airtel Ltd., Capital One Finance Corp., McDonald’s Corp., Comcast Corp., Diageo plc, Bayer AG, Honda Motor Co. Ltd. and Allstate Corp. According to Renaissance Capital, Splinkr has 1,179 clients, including over 50% of the Fortune 100.
During its IPO, Reuters reports that Spirnklr posted revenue of $ 386.9 million for the year ending Jan.31. Despite its longevity as a startup at 12 years, the company is unprofitable, reporting a net attributable loss of $ 41.2 million through January 31, down from $ 39.1 million in the year former. Sprinklr’s revenue in the three months to April 30 increased 19.3% year-on-year to $ 111 million.
The IPO came from Sprinklr a long time ago. Timing is everything when it comes to going public, and while there have been rare IPO hiccups, as with Squarespace Inc. recently, software companies have mostly found a public willing investors. Recent successful IPOs include cybersecurity software company Darktrace plc, automation technology platform provider UiPath Inc., and cryptocurrency service provider Coinbase Inc.
During its IPO, Sprinklr has raised $ 429 million in venture capital and private equity since 2012, according to data from Crunchbase. Investors include Hellman & Friedman, EDBI, Wellington Management, Temasek Holdings, Intel Capital, ICONIQ Capital and Battery Ventures.
Comments are closed.