Total amount raised
$429 Millions
Latest funding date
9/1/2020
Location
Sprinklr has successfully raised significant funding through multiple rounds, attracting notable investors such as Hellman & Friedman and ICONIQ Growth. The company offers a comprehensive suite of AI-powered tools designed to enhance customer experience management across various digital channels.
Keep reading to delve into the details of Sprinklr's funding journey and discover the key investors who believe in the potential of this innovative platform.
What Is Sprinklr?
Sprinklr, founded in 2009 by Manjunatha KG and Ragy Thomas, is headquartered in New York, New York. The company specializes in providing enterprise software for customer experience management, helping brands manage social media, customer service, marketing, and insights across multiple digital channels using AI-powered tools.
Sprinklr's platform is designed to bring teams, tools, and touchpoints together to drive higher productivity and better customer experiences. Notable clients like Microsoft and McDonald's utilize Sprinklr to manage customer experiences at scale.
With a workforce of 1001-5000 employees, Sprinklr continues to innovate in the realm of customer experience management, leveraging AI to enhance productivity and customer satisfaction.
How Much Funding Has Sprinklr Raised?
- Series A
- Amount Raised: $5M
- Date: February 2012
- Lead Investors: Battery Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and enhance the initial product offering.
- Series B
- Amount Raised: $15M
- Date: February 2013
- Lead Investors: Battery Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale operations.
- Series C
- Amount Raised: $18M
- Date: November 2013
- Lead Investors: Battery Ventures, Intel Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and market reach.
- Series D
- Amount Raised: $40M
- Date: April 2014
- Lead Investors: ICONIQ Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product capabilities and expand globally.
- Series E
- Amount Raised: $46M
- Date: March 2015
- Lead Investors: Battery Ventures, ICONIQ Growth, Intel Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop AI capabilities and integrate new technologies.
- Series F
- Amount Raised: $105M
- Date: July 2016
- Lead Investors: Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and enter new markets.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: June 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Private Equity Round
- Amount Raised: $200M
- Date: September 2020
- Lead Investors: Hellman & Friedman
- Valuation at Round: $2.7B
- Motivation Behind the Round: To accelerate growth, innovation, and market expansion.
Total Amount Raised: $429M. Current Valuation: $2.7B.
Key Investors
- Hellman & Friedman
- Details: Hellman & Friedman is a private equity firm based in San Francisco. They specialize in large-scale equity investments in high-quality growth businesses.
- Investment Focus Areas: Software, financial services, healthcare.
- Notable Investments: Genesys, Hub International, Ultimate Software.
- ICONIQ Growth
- Details: ICONIQ Growth is a growth equity firm that invests in technology and software companies. They are known for their strategic partnerships and long-term investment approach.
- Investment Focus Areas: Technology, software, growth-stage companies.
- Notable Investments: Snowflake, Datadog, Uber.
- Battery Ventures
- Details: Battery Ventures is a global, technology-focused investment firm. They invest in companies at all stages, from seed to growth and buyout.
- Investment Focus Areas: Technology, software, innovation-driven companies.
- Notable Investments: Coupa, Nutanix, Glassdoor.
- Intel Capital
- Details: Intel Capital is the investment arm of Intel Corporation. They invest in technology startups and companies that align with Intel's strategic interests.
- Investment Focus Areas: Technology, software, hardware.
- Notable Investments: Red Hat, VMware, Cloudera.
- Temasek Holdings
- Details: Temasek Holdings is a global investment company headquartered in Singapore. They have a diverse portfolio and focus on long-term sustainable returns.
- Investment Focus Areas: Financial services, telecommunications, technology, transportation, industrials.
- Notable Investments: Alibaba, Tencent, Gojek.
What's Next for Sprinklr?
Sprinklr stands at the cusp of a significant opportunity in the customer experience management sector, with a market potential estimated at $100 billion. The recent $200 million funding round, which boosted its valuation to $2.7 billion, positions the company to expand its product offerings and enter new markets. This financial backing underscores the vast growth potential in enhancing customer experience across multiple digital channels.
Future fundraising opportunities appear promising, given the successful recent rounds and the company's ambitious goal to reach $1 billion in annual recurring revenue. Strategic partnerships and potential acquisitions could further bolster Sprinklr's capabilities and market reach, making it an attractive candidate for additional investments.
However, Sprinklr faces challenges such as intense competition from established players like Salesforce and Adobe, and the need to continuously innovate. Integrating new acquisitions and scaling operations while maintaining high-quality customer service will be crucial for sustaining growth. As the company navigates these hurdles, its commitment to diversity and inclusion will remain a core focus, ensuring a balanced and forward-thinking approach to expansion.
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