Sprinklr, a US-based marketing software developer backed by semiconductor technology producer Intel, has filed to raise $100m in an initial public offering on the New York Stock Exchange.
Founded in 2009, Sprinklr supplies customer experience management software which enables businesses to interact with their customers across multiple digital channels. Its platform includes solutions for market research, marketing, advertising, sales and engagement.
The company’s revenue increased to $387m in the fiscal year ending January 2021 from $324m in the same period the year before. It also recorded a $41.2m loss over the same period.
Private equity firm Hellman & Friedman provided $200m for Sprinklr in September 2020 at a $2.7bn valuation, an investment made alongside $150m of convertible securities provided by Sixth Street Growth, a growth equity fund owned by investment firm Sixth Street.
Singaporean state-owned investment firm Temasek led a $105m round for the company in 2016 with participation from EDBI, Wellington Management and undisclosed existing investors. Intel subsidiary Intel Capital had joined Battery Ventures and Iconiq Capital in Sprinklr’s $46m series E round in 2015, the three having backed its $40m series D round the year before.
Intel Capital and Battery Ventures also featured in the company’s $17.5m series C round in November 2013 and its $15m series B round in February that year. It had previously raised $5m from Battery Ventures in 2012.
Hellman & Friedman owns a 24.8% stake in Sprinklr while Battery Ventures has 19.1% of its shares and Iconiq Capital 10.8%.
Morgan Stanley, JP Morgan, Citigroup, Barclays, Wells Fargo Securities, JMP Securities, KeyBanc Capital Markets, Oppenheimer, Stifel and William Blair are underwriters for the offering.