Sprinklr, which provides customer experience management software for enterprises, announced terms for its IPO on Monday.
The New York, NY-based company plans to raise $361 million by offering 19 million shares at a price range of $18 to $20. At the midpoint of the proposed range, Sprinklr would command a fully diluted market value of $5.5 billion.
Sprinklr is a software platform purpose-built to help enterprises break down information silos across the customer journey, tap into an ocean of unstructured digital data, and utilize AI to create a persistent, unified view of each customer at scale. The company utilizes an effective go-to-market strategy that has enabled it to grow rapidly, attracting 1,179 customers, including more than 50% of the Fortune 100.
Sprinklr was founded in 2009 and booked $405 million in revenue for the 12 months ended April 30, 2021. It plans to list on the NYSE under the symbol CXM. Morgan Stanley, J.P. Morgan, Citi, Barclays, and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price during the week of June 21, 2021.
