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    PartsTech, a Boston-based car component startup, bags $35 million

    PartsTech, a Boston-based car component startup, bags $35 million

    Gradiant raises $225 million in Series D, enters the unicorn club

    Gradiant raises $225 million in Series D, enters the unicorn club

    Ohmium, a green hydrogen startup closes $250 million Series C

    Ohmium, a green hydrogen startup closes $250 million Series C

    Vedanta Biosciences, a clinical-stage company, secured $106.5 million

    Vedanta Biosciences, a clinical-stage company, secured $106.5 million

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      PartsTech, a Boston-based car component startup, bags $35 million

      PartsTech, a Boston-based car component startup, bags $35 million

      Gradiant raises $225 million in Series D, enters the unicorn club

      Gradiant raises $225 million in Series D, enters the unicorn club

      Ohmium, a green hydrogen startup closes $250 million Series C

      Ohmium, a green hydrogen startup closes $250 million Series C

      Vedanta Biosciences, a clinical-stage company, secured $106.5 million

      Vedanta Biosciences, a clinical-stage company, secured $106.5 million

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      Home Software

      Software startup Sprinklr targets $5 billion valuation with its forthcoming IPO

      USTechTimes Editor by USTechTimes Editor
      June 18, 2021
      Sprinklr

      Sprinklr is set to file IPO next week.

      Share on FacebookShare on Twitter

      Software startupSprinklr, which began in 2009 in a spare bedroom in founder and Chief Executive Officer Ragy Thomas’s house in New Jersey, said on June 14, 2021, that it was looking to raise as much as $380 million through a U.S. initial public offering (IPO), targeting a valuation of about $5 billion.

      Sprinklr, which has Microsoft Corp (MSFT.O) and McDonald’s Corp (MCD.N) as clients, provides software that helps with marketing, advertising, and customer engagement, said in a regulatory filing it planned to sell 19 million shares priced between $18 and $20 per share.

      Company to offer 19 million shares

      Backed by private equity firm Hellman and Friedman, the software company plans to offer 19 million shares at $18 to $20 each. The stock will trade under the ticker CXM on the New York Stock Exchange. The New York-based company is scheduled to price its deal on June 22 and trade the next day, a source said. At $20 a share, Sprinklr’s valuation can reach $5 billion.

      It was valued at $2.7 billion after raising $200 million from private equity firm Hellman and Friedman in September last year. Sprinklr also counts Singapore-based investment firm Temasek, Battery Ventures, and ICONIQ Capital among its backers.

      The company’s revenue rose 19 percent to $111 million in the three months ending April 30, 2021. Its net loss, however, widened to $14.7 million from $11.2 million in the same period. Sprinklr has applied to list its shares on the New York Stock Exchange under the ticker symbol “CXM.” It confidentially submitted paperwork to U.S. regulators for the IPO in March. Morgan Stanley, J.P. Morgan, Citigroup, Barclays and Wells Fargo Securities are the lead underwriters for the offering.

      Founded in 2009, Sprinklr provides a customer-experience management platform that assists companies in managing their digital identities—in advertising, marketing, research and social media. The company has 1,021 customers and around 2,469 employees.

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      Tags: CXMIPONew York Stock ExchangeSoftwareSprinklr
      USTechTimes Editor

      USTechTimes Editor

      USTechTimes.com is an independent new media site that focuses on the latest technology and digital news in the United States and around the world. The site focuses on new startup launching, startup funding, and development in the startup space.

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