PE-backed Software startup Sprinklr confidentially files for IPO

Sprinklr, which counts Microsoft Corp and telecom operator Verizon Communication Inc as customers, has confidentially filed with the U.S. Securities and Exchange Commission for an initial public offering, the software company said on Monday.

The New York-based firm provides software that helps its clients with marketing, advertising and customer engagement. Sprinklr was founded in 2009 and is led by founder and Chief Executive Officer Ragy Thomas.

The size of the offering has not been determined, the company said.

In September last year, the company raised $200 million from private equity firm Hellman & Friedman, bringing its valuation to $2.7 billion. Singapore-based investment firm Temasek, and ICONIQ Capital have also invested in the startup.

More than 60 operating companies have listed so far this year, against the backdrop of a boom in IPOs, data from Refinitiv showed.

Source: Reuters