Valuation Doubled to $850 Million by Marketing-tech startup Braze
Prerna Mahtani,
6 years ago
3 min read
Trending in the latest marketing-tech news, the startup named Braze (formerly Appboy) is creating a mark for itself in the market. According to the New York Business Journal, the company raised it’s value in just over a year, making a total valuation of $850 million. Read on to find out what how did Braze manage to raise up its game in no time.
All about Braze
Braze is a leading global customer engagement platform delivering personalized messaging experiences. It covers push, email, apps and more under it’s functioning. It 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 an industry where consumer demands are evolving at an unprecedented rate, Braze is a critical component of the customer experience. The company only makes it’s functioning faster and better with every up gradation.
Bill Magnuson, Cofounder, and CEO at Braze say “We’ve built Braze to be the backbone of customer engagement. It helps brands combine our sophisticated technology with a fundamentally human approach. In turn, helping to convert that challenge into an opportunity.”
How is Braze different from its Competitors?
Braze is set apart as it is a platform that allows for real-time and continuous data streaming. It does the work of replacing decades-old databases that aren’t built for today’s on-demand, an always-connected customer. This era is all about data, technology, and teams working together in unison. That’s where Braze platform makes marketing more authentic, brands more human, and customers more satisfied with every experience. Braze is built specifically for today’s mobile-first world and tomorrow’s ambient computing future. Braze is a venture-backed company with hundreds of employees.
Taking Braze’s performance in consideration, it has been said that
Braze makes data agility and advanced intelligence possible. It allows companies to unlock the power data and drive conversations. Making the conversations personalized and coherent and on time.
Braze’s Journey to Excellence
Founded in 2011, Braze has managed to become known on an international level thanks to its tech. It sends out a single marketing message to users in hundreds of different languages, depending on their location.
Since the beginning of 2017, Braze more than tripled its annual recurring revenue, increased monthly email volume by 600%. It has 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. It has before invested in Oculus, Postmates, and Slack, as well as backing from Cross Creek.
It was recognized by Forbes among the “Cloud 100” — the top cloud computing companies, specializing in mobile marketing automation.
Meritech’s co-founder Paul Madera says, ” We rarely hear customers rave enthusiastically over technology. But that is exactly what we heard regarding Braze. Their customers are passionate about the differentiated solution to cloud-based marketing. And this remarkably effective platform surpasses a prior generation of tools that no longer work.”
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