Customer engagement startup Braze Raises $80M in Funding at $850M valuation

Braze (formerly Appboy), a New York based customer engagement platform that delivers messaging experiences across push, email, in-product, and more has raised $80 million Series E round of funding.

This latest infusion of capital brings Braze to $130 millionraised in just over a year, and has more than doubled its valuation to $850 million from Series D in 2017.

The round of funding was led by Meritech Capital Partners, a venture capital company with investments in leading technology brands such as Facebook, MuleSoft, and Salesforce.

Braze boasts over 500 digital-first and enterprise brand customers, including ABC News, AccuWeather, Delivery Hero, HBO, Lyft, Jet.com, KFC Australia, Microsoft, RedMart, The Skimm, and Venmo.

Each month, Braze powers tens of billions of messages, delivered to over 1.5 billion monthly active users globally. In Q2 2018 alone, Braze processed 1 trillion engagement events, enabling brands to take immediate action on customer insights and create personalized, cross-channel messaging experiences.

Since the beginning of 2017, Braze more than tripled its annual recurring revenue, increased monthly email volume by 600%, and opened a Singapore office marking its official entry into the APAC market. In this round, the company also received backing from Spark Capital, a venture capital firm invested in Oculus, Postmates, and Slack, as well as backing from Cross Creek.

“We’ve built Braze to be the backbone of customer engagement, helping brands combine our sophisticated technology with a fundamentally human approach that helps turn that challenge into opportunity,”said Bill Magnuson, Cofounder and CEO at Braze

 

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