Temasek-backed Sprinklr reveals 19 per cent jump in revenue in IPO filing

BENGALURU (REUTERS) – Software start-up Sprinklr on Friday (May 28) made public its plans for a stock market listing in the United States, revealing a 19.3 per cent rise in annual revenue.

Sprinklr, which counts Microsoft and McDonald’s as customers, provides software that helps its clients with marketing, advertising and customer engagement.

The company reported total revenue of about US$386.9 million (S$511.6 million) in the year ended Jan 31, while its annual net attributable loss widened to US$41.2 million from US$39.1 million.

Total revenue for the three months ended April 30 rose 19.3 per cent to about US$111 million.

Sprinklr began in 2009 in a spare bedroom in founder and chief executive officer Ragy Thomas’s house in New Jersey. The company now has over 2,000 employees globally, according to its website.

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

Sprinklr confidentially submitted paperwork for its initial public offering (IPO) in March, with the company’s plans coming at a time when the US IPO market is going through an unprecedented bull run, led mainly by technology stocks which have seen high investor demand.

Coinbase Global, Roblox, Affirm Holdings and Coupang all popped in their market debuts this year.

Morgan Stanley, JP Morgan, Citigroup, Barclays and Wells Fargo Securities are among the lead underwriters for Sprinklr’s IPO. The company said it will apply to list its shares on the New York Stock Exchange under the ticker symbol “CXM”.

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