Total amount raised
$175.1 Millions
Latest funding date
November, 2021
Location
Braze has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform specializes in customer engagement, offering tools for data management, AI-driven marketing, and cross-channel messaging.
Keep reading to explore the intricacies of Braze's fundraising journey and the investors backing this innovative platform.
What Is Braze?
Founded in 2011, Braze is a customer engagement platform headquartered in New York, New York. The company was established by Bill Magnuson, Jonathan Hyman, and Mark Ghermezian.
Braze specializes in creating personalized, data-driven marketing strategies that foster meaningful interactions between brands and consumers. Their services include cross-channel messaging, journey orchestration, and AI-driven marketing tools.
With a workforce of 1001-5000 employees, Braze continues to innovate in the realm of customer engagement, helping businesses optimize their marketing efforts through real-time data and AI.
How Much Funding Has Braze Raised?
- Seed Round
- Amount Raised: $1M
- Date: November 2011
- Lead Investors: Blumberg Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the platform and bring the product to market.
- Seed Round
- Amount Raised: $1.5M
- Date: March 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand initial customer base.
- Non-Equity Assistance
- Amount Raised: Not specified
- Date: January 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To receive strategic support and resources without diluting equity.
- Series A
- Amount Raised: $7.6M
- Date: November 2013
- Lead Investors: Rally Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product features.
- Series B
- Amount Raised: $15M
- Date: October 2014
- Lead Investors: InterWest Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and accelerate growth.
- Series C
- Amount Raised: $20M
- Date: May 2016
- Lead Investors: Battery Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and support international expansion.
- Series D
- Amount Raised: $50M
- Date: September 2017
- Lead Investors: ICONIQ Growth, Meritech Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and increase market penetration.
- Series E
- Amount Raised: $80M
- Date: October 2018
- Lead Investors: Meritech Capital Partners
- Valuation at Round: $850M
- Motivation Behind the Round: To support growth, expand geographically, and enhance product offerings.
- Grant
- Amount Raised: Not specified
- Date: June 2023
- Lead Investors: Snowflake
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To leverage strategic partnerships and enhance technological capabilities.
Total Amount Raised: $174.1M
Current Valuation: $850M
Key Investors
- Snowflake
- Details: Snowflake is a cloud-based data-warehousing company that offers a data platform built for the cloud. It enables data storage, processing, and analytic solutions that are faster, easier to use, and far more flexible than traditional offerings.
- Investment Focus Areas: Cloud computing, data warehousing, analytics
- Notable Investments: Not publicly disclosed
- Meritech Capital Partners
- Details: Meritech Capital Partners is a leading provider of late-stage venture capital to category-defining private technology companies. They have over $3 billion under management and focus on companies with proven and differentiated technology.
- Investment Focus Areas: Technology, software, internet
- Notable Investments: Facebook, MuleSoft, Salesforce
- Spark Capital
- Details: Spark Capital is a venture capital firm that invests in startups across various stages. They are known for their investments in some of the most innovative technology companies.
- Investment Focus Areas: Technology, media, consumer internet
- Notable Investments: Twitter, Slack, Oculus
- ICONIQ Growth
- Details: ICONIQ Growth is a global multi-family office and merchant bank that invests in technology companies. They provide strategic support and capital to help companies scale.
- Investment Focus Areas: Technology, software, internet
- Notable Investments: Not publicly disclosed
- Battery Ventures
- Details: Battery Ventures is a global, technology-focused investment firm that invests in companies at all stages of growth. They have been investing in technology and innovation for over 35 years.
- Investment Focus Areas: Software, industrial technology, consumer technology
- Notable Investments: Not publicly disclosed
What's Next for Braze?
As Braze continues to expand, the opportunities are vast. The company's recent entry into the APAC market, marked by a new office in Singapore, positions it to tap into a rapidly growing region. With the increasing demand for personalized customer engagement solutions, Braze is well-placed to leverage its advanced technology to deliver sophisticated, cross-channel messaging experiences to a global audience.
Future fundraising opportunities seem promising, given the company's impressive growth trajectory and market potential. Additional funding rounds could help Braze scale its operations and enhance its technological capabilities. However, challenges such as keeping pace with technological advancements and maintaining customer satisfaction in a competitive landscape remain. Balancing these elements will be crucial for Braze's sustained success.
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