To celebrate its ten-year anniversary, Braze is planning an IPO. The New York-based marketing tech startup filed its paperwork with the SEC yesterday to list its shares on the Nasdaq under the ticker symbol BRZE.
Braze offers a cloud-based digital platform for companies to engage with their customers through various channels such as email, apps, and social media. The platform gives companies valuable insights into their customers so they can be targeted with personalized messages.
Braze’s decision to go public comes after two years of strong revenue growth. The company went from $96m in fiscal year 2020 to $150m in 2021. While the positive momentum is great, it should be noted that Braze has yet to turn a profit.
why it matters
Braze has a recognizable list of customers including Burger King, GrubHub (GRUB), IBM (IBM), Nascar, Hinge, PayPal (PYPL), and HBO. The company is a leader in the growing industry of marketing campaign management software companies, an industry that's projected to reach $19.4b by 2024 according to research group IDC.