Total amount raised
$705 Million
Latest funding date
6/1/2021
Location
Sprinklr has raised funding through eight rounds, with the latest being its June 2021 IPO on the NYSE. The company is backed by a total of eight investors, including ICONIQ Growth.
Sprinklr offers an AI-native platform designed to unify customer journeys and empower customer-facing teams. Keep reading to explore the intricacies of Sprinklr's fundraising journey and the investors backing this innovative platform.
What Is Sprinklr?
Sprinklr, headquartered in New York, New York, provides enterprise software for customer experience management. The company operates in various industries, including advertising platforms, analytics, cloud computing, enterprise software, social media, and social media management. With a substantial employee base ranging from 1001 to 5000 employees, Sprinklr has established itself as a significant player in the software industry.
Founded to unify customer journeys and empower customer-facing teams, Sprinklr offers an AI-native platform that connects conversations across every touchpoint. The company is public, listed under the ticker NYSE:CXM, and has been active in acquiring other organizations, with a total of 12 acquisitions. Sprinklr's innovative solutions are trusted by global brands and recognized by leading analysts in the customer experience management space.
How Much Funding Has Sprinklr Raised?
- IPO
- Amount Raised: USD 276,000,000 (net proceeds to the company after underwriting discounts, commissions and other offering expenses, including the underwriters' option on 1,662,500 additional shares exercised in full on July 1, 2021; 16,625,000 base Class A shares at USD 16.00 on the NYSE)
- Date: June 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The prospectus states the principal purposes are to increase capitalization and financial flexibility, create a public market for the Class A common stock and facilitate future access to the capital markets.
- Private Equity Round
- Amount Raised: USD 200,000,000
- Date: September 2020
- Lead Investors: Hellman & Friedman
- Valuation at Round: USD 2.7 billion
- Motivation Behind the Round: To accelerate growth and innovation, and to support market expansion and potential mergers and acquisitions.
- Secondary Market
- Date: June 2017
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to existing shareholders.
- Series F
- Amount Raised: USD 105,000,000
- Date: July 2016
- Lead Investors: Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and support company growth.
- Series E
- Amount Raised: USD 46,000,000
- Date: March 2015
- Lead Investors: Battery Ventures, ICONIQ Growth, Intel Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform capabilities and expand market reach.
- Series D
- Amount Raised: USD 40,000,000
- Date: April 2014
- Lead Investors: ICONIQ Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic acquisitions and fuel growth.
- Series C
- Amount Raised: USD 18,000,000
- Date: November 2013
- Lead Investors: Battery Ventures, Intel Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product development.
- Series B
- Amount Raised: USD 15,000,000
- Date: February 2013
- Lead Investors: Battery Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and accelerate growth.
- Series A
- Amount Raised: USD 5,000,000
- Date: March 2012
- Lead Investors: Battery Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and enter the market.
Total Amount Raised: USD 705,000,000. Includes the June 2021 IPO at net proceeds after offering costs, including the underwriters' option; the June 2017 secondary sale has no amount and is not a company raise. Last private valuation: USD 2.7 billion (September 2020 round).
Key Investors
- Hellman & Friedman
- Details: Hellman & Friedman is a private equity firm that invested $200 million in Sprinklr. They also invested an additional $300 million in buying back secondary shares.
- Investment Focus Areas: Private equity investments in various sectors.
- Notable Investments: Salesforce, HubSpot, Zendesk.
- ICONIQ Growth
- Details: ICONIQ Growth is one of the most recent investors in Sprinklr. They have participated in multiple funding rounds for the company.
- Investment Focus Areas: Technology, growth-stage companies.
- Notable Investments: Not publicly disclosed.
- Temasek Holdings
- Details: Temasek Holdings is a global investment company that led a $105 million investment in Sprinklr in 2016. They have a diverse portfolio across various sectors.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Not publicly disclosed.
- Battery Ventures
- Details: Battery Ventures is a venture capital firm that has been involved in multiple funding rounds for Sprinklr. They focus on technology and growth-stage companies.
- Investment Focus Areas: Technology, growth-stage companies.
- Notable Investments: Not publicly disclosed.
- Intel Capital
- Details: Intel Capital is the investment arm of Intel Corporation. They have invested in Sprinklr to support its growth and innovation.
- Investment Focus Areas: Technology, growth-stage companies.
- Notable Investments: Not publicly disclosed.
What's Next for Sprinklr?
Buoyed by a $200 million September 2020 round at a $2.7 billion valuation and its June 2021 IPO, Sprinklr stands at the cusp of significant growth. This financial boost opens doors for expanding operations, enhancing product offerings, and potentially entering new markets. The customer experience management market, estimated to be a $100 billion opportunity, presents a vast landscape for Sprinklr to explore.
Sprinklr may attract further investments to support its ambitious goals, including reaching $1 billion in annual recurring revenue. However, challenges such as competition from established players like Salesforce and Adobe, and the need to integrate new acquisitions, could test the company's resilience.
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