Company:Braze, Inc

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Braze, Inc.
FormerlyAppboy Inc. (2011–2017)
TypePublic company
NASDAQ: BRZE
Industry
Founded2011[1]
Founders
  • Mark Ghermezian
  • Bill Magnuson
  • Jon Hyman
Headquarters
New York, NY
,
United States
Key people
  • Bill Magnuson CEO
  • Jon Hyman CTO
  • Myles Kleeger President, CCO
  • Isabelle Winkles CFO
[2]
ProductsCustomer Engagement Platform
Number of employees
1000+
Websitewww.braze.com

Braze, Inc. is an American cloud-based software company based in New York City [3][4] It is a customer engagement platform used by businesses for multichannel marketing.[4]

Braze provides customer engagement technology for companies such as HBO Max,[5] Skyscanner,[6] PureGym,[7] Burger King,[8] Babylon Health,[9] Grubhub,[10][11] NASCAR[12] and CleanChoice Energy.[13]

History

Braze was co-founded as Appboy in 2011 by Bill Magnuson, Jon Hyman, and Mark Ghermezian. The three met after Magnuson and Hyman won the 2011 NYC Disrupt Hackathon for Gilt-ii.[14] The trio raised $3 million from investors in order to start the company.[1][15][16]

In August of 2017, the company received $50 million in Series D Financing[17] and later that year, Appboy rebranded to Braze, Inc.[18]

The company launched Braze Alloys in 2018, a network of over 45 integration applications with companies like Segment, mParticle, and Amplitude.[19] The company also raised $80 million in Series E funding, with a valuation of $850 million, and opened an office in Singapore.[20]

In 2019, Braze added Google AMP for email[21] and passed $100 million in annual recurring revenue.[22] The company was named a leader in Gartner's Magic Quadrant for Mobile Marketing Platforms.[19] Also in 2019, Braze was listed by Inc. as one of the Best Places to Work and Forbes listed Braze on its Cloud 100 list.[23]

In 2020, Braze boycotted Facebook advertising and encouraged other brands to do the same over content moderation practices.[24] The company also joined several other marketing tech firms to offer technology grants to Black founded businesses with the Tech for Black Founders program.[25] At this time, Braze was delivering over 100 billion messages each month[26] and had raised over $175 million in funding.[27] That same year, Inc. listed Braze as one of the Best Workplaces for a second year.[28]

In 2016, the company launched Canvas (Cross Channel Journey Management) which allows brands to personalize and automate messages to users as well as incentivizing customers with rewards.[29][30] Braze also commissioned the Data Privacy Report providing details about consumers and their privacy concerns.[31] Along with Skyscanner and Apptopia Braze published the Ready for Takeoff 2021 Travel Industry Trends, Insights and Strategies.[32] Braze introduced integrations with Snowflake and Shopify.[33][34] Forbes named the company on the Cloud 100 list again.[35][36] Braze was also recognized as a leader in the Forrester CCCM Wave in 2021.[37]

In October 2021, Braze filed to go public.[38] On November 17, 2021, Braze’s IPO raised $520 million and had a market valuation of $5.9 billion.[39][40]

In 2022, Braze released the second annual Global Customer Engagement Review, detailing how retailers approach customer engagement.[41][42]

References

  1. ↑ 1.0 1.1 "Gilt-ii Turns Flash Sales Site Gilt Into An Auction Marketplace" (in en-US). https://social.techcrunch.com/2011/05/22/gilt-ii-turns-flash-sales-site-gilt-into-an-auction-marketplace/. 
  2. ↑ "Braze Inc Company Profile". Bloomberg. https://www.bloomberg.com/profile/company/0036861D:US. 
  3. ↑ Walmsley, Julie (January 31, 2018). "This Company Got to $400 Million Advising Clients to Do This 1 Thing". Inc.. https://www.inc.com/julie-walmsley/this-company-got-to-400-million-advising-clients-to-do-this-1-thing.html/. Retrieved 6 March 2018. 
  4. ↑ 4.0 4.1 Clancy, Heather (June 30, 2016). "This Startup Helps Marketers Optimize Mobile Outreach". Fortune. http://fortune.com/2016/06/30/appboy-mobile-marketing-series-c/. Retrieved 20 September 2016. 
  5. ↑ Rodriguez, Ashley. "How HBO Max's marketing team works to turn free-trial users into paying customers and prevent cancellations" (in en-US). https://www.businessinsider.com/hbo-max-marketing-strategy-free-trial-users-to-paying-customers-2020-10. 
  6. ↑ Kiesnoski, Kenneth (2021-06-13). "Eager to travel, Americans book Sun Belt beach, city stays as pandemic fades" (in en). https://www.cnbc.com/2021/06/13/eager-to-travel-americans-book-sun-belt-beach-city-stays-as-pandemic-fades.html. 
  7. ↑ "PureGym CMO: We're much stronger thanks to Covid" (in en). 2022-03-01. https://www.marketingweek.com/puregym-cmo-stronger-post-covid/. 
  8. ↑ Machado, Fern (May 17, 2019). "The Inside Story of the Burger King Campaign That Changed the Brand's Entire Outlook on Marketing" (in en-US). https://www.adweek.com/brand-marketing/the-inside-story-of-the-burger-king-campaign-that-changed-the-brands-entire-outlook-on-marketing/. 
  9. ↑ "Talking mobile with Babylon Health" (in en). http://mobilemarketingmagazine.com/talking-mobile-with-babylon-health-. 
  10. ↑ "How Public.com used personalized cross-channel engagement to double attendance at live events" (in en). 2022-02-16. https://martech.org/how-public-com-used-personalized-cross-channel-engagement-to-double-attendance-at-live-events/. 
  11. ↑ Talbot, Paul. "Inside The Grubhub Marketing Strategy" (in en). https://www.forbes.com/sites/paultalbot/2021/03/26/inside-the-grubhub-marketing-strategy/. 
  12. ↑ Zelaya, Ian (December 15, 2020). "How Nascar Got Quarantined Fans to Tune Into Virtual Races" (in en-US). https://www.adweek.com/performance-marketing/how-nascar-quarantine-fans-virtual-racing/. 
  13. ↑ Althouse/, Michaela (2021-05-25). "Power Moves: CleanChoice Energy CTO Anthony Hoang hopes to use tech to boost decarbonization in the District" (in en). https://technical.ly/dc/2021/05/25/power-moves-anthony-hoang/. 
  14. ↑ "Hackathon" (in en-US). https://techcrunch.com/events/disrupt-ny-2011/hackathon/. 
  15. ↑ Rusli, Evelyn (April 4, 2012). "Heirs to Old Money Plunge Into Tech". The New York Times. https://dealbook.nytimes.com/2012/04/04/heirs-to-old-money-plunge-into-tech/?_r=0. 
  16. ↑ Empson, Rip (November 23, 2011). "AppBoy Raises A Cool Million To Let App Developers Better Engage And Understand Their User Base". TechCrunch. https://techcrunch.com/2011/11/23/appboy-raises-a-cool-million-to-let-app-developers-better-engage-and-understand-their-user-base/. 
  17. ↑ "This Startup Raked in $50 Million to Take on Salesforce" (in en). https://fortune.com/2017/08/09/appboy-software-funding/. 
  18. ↑ Umoh, Ruth (2017-10-10). "This ex-Google employee says working at the tech giant helped inspire him to start his own business" (in en). https://www.cnbc.com/2017/10/10/ex-google-employee-says-working-at-tech-giant-helped-him-found-appboy.html. 
  19. ↑ 19.0 19.1 Barry Levine (October 15, 2018). "Braze launches an app ecosystem with more than 45 integrations". MarTechToday. https://martechtoday.com/braze-launches-an-app-ecosystem-with-more-than-45-integrations-226625. 
  20. ↑ "Braze: How This Startup Grew Quickly Into A Marketing Automation Giant" (in en). 2018-10-09. https://pulse2.com/braze-80-million-funding/. 
  21. ↑ "Daily Buzz: Is AMP for Email Ready for Prime Time?" (in en-US). 2019-10-31. https://associationsnow.com/2019/10/daily-buzz-is-amp-for-email-ready-for-prime-time/. 
  22. ↑ Alex Wilhelm. "Kicking off 2020 with 4 new members of the $100M ARR club". TechCrunch. https://techcrunch.com/2020/01/02/kicking-off-2020-with-4-new-members-of-the-100m-arr-club/. 
  23. ↑ "The 346 Best Places to Work in 2019". Inc.. May 16, 2019. https://www.inc.com/best-workplaces-2019.html. 
  24. ↑ Swant, Marty. "As Civil Rights Groups Ask Marketers To Boycott Facebook, Outdoor Brands Pause Spending" (in en). https://www.forbes.com/sites/martyswant/2020/06/19/as-civil-rights-groups-ask-marketers-to-boycott-facebook-outdoor-brands-pause-spending/. 
  25. ↑ Williams, Colleen (2020-07-06). "Several MarTech Firms to Give Away Free Services to Black-Founded Startups" (in en). https://afrotech.com/several-martech-firms-to-give-away-free-services-to-black-founded-startups. 
  26. ↑ Council, Jared (2020-09-21). "Behind Snowflake's Debut: Rising Data Demands" (in en-US). Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/behind-snowflakes-debut-rising-data-demands-11600728414. 
  27. ↑ "Braze Co-Founder & CEO, Bill Magnuson joins Rokt Board of Directors" (in en-US). 2020-02-12. https://martechseries.com/mobile/mobile-marketing/e-commerce-and-mobile-commerce/braze-co-founder-ceo-bill-magnuson-joins-rokt-board-directors/. 
  28. ↑ "Everything You Need to Know to Start and Grow Your Business" (in en). https://www.inc.com/. 
  29. ↑ Securities and Exchange Commission, United States (October 22, 2021). "Braze, Inc. 2021 Form S-1 Registration Statement". https://www.sec.gov/Archives/edgar/data/0001676238/000119312521304909/d40379ds1.htm. 
  30. ↑ Page, Rosalyn (30 July 2020). "CMO's top 8 martech stories for the week" (in en-au). https://www.cmo.com.au/article/681728/cmo-top-8-martech-stories-week-30-july-2020/. 
  31. ↑ Swant, Marty. "Senator Kirsten Gillibrand Introduces Bill To Create A Data Protection Agency" (in en). https://www.forbes.com/sites/martyswant/2020/02/14/us-sen-gillibrand-introduces-bill-to-create-a-data-privacy-agency/. 
  32. ↑ Kiesnoski, Kenneth (2021-06-13). "Eager to travel, Americans book Sun Belt beach, city stays as pandemic fades" (in en). https://www.cnbc.com/2021/06/13/eager-to-travel-americans-book-sun-belt-beach-city-stays-as-pandemic-fades.html. 
  33. ↑ "Braze Enhances Platform, Partners With Movable Ink" (in en). https://www.mediapost.com/publications/article/350341/braze-enhances-platform-partners-with-movable-ink.html. 
  34. ↑ "Braze Integrates with Shopify". https://www.destinationcrm.com/Articles/CRM-News/CRM-Across-the-Wire/Braze-Integrates-with-Shopify-146533.aspx. 
  35. ↑ "America's Best Startup Employers 2021" (in en). https://www.forbes.com/americas-best-startup-employers/. 
  36. ↑ "The Cloud 100 2021" (in en). https://www.forbes.com/cloud100/. 
  37. ↑ Jepma, William (2021-08-18). "Key Takeaways: The Forrester Wave: Cross-Channel Campaign Management (Independent Platforms), Q3 2021" (in en-US). https://solutionsreview.com/marketing-automation/key-takeaways-the-forrester-wave-cross-channel-campaign-management-independent-platforms-q3-2021/. 
  38. ↑ "Customer engagement platform Braze files for a $100 million IPO" (in en). https://www.renaissancecapital.com/IPO-Center/News/87643/Customer-engagement-platform-Braze-files-for-a-$100-million-IPO. 
  39. ↑ Graham, Megan (2021-11-17). "Braze Shares Soar in Market Debut" (in en-US). Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/braze-shares-soar-in-market-debut-11637186428. 
  40. ↑ Woelfel, Joe. "Braze Raises $520 Million as IPO Prices Above Expected Range" (in en-US). https://www.barrons.com/articles/braze-brze-initial-public-offering-ipo-pricing-51637142208. 
  41. ↑ "Survey: Bad customer experience kills brand loyalty quickly" (in en). https://www.chainstoreage.com/survey-bad-customer-experience-kills-brand-loyalty-quickly. 
  42. ↑ "Report: US imports up 8% for 2020 - Ecommerce - BizReport". https://www.bizreport.com/2021/02/report-us-imports-up-8-for-2020.html. 

External links




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