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SendGrid Files For $100M IPO

SendGrid, an email marketing platform, has filed for an IPO with the goal of raising $100 million. The company announced its plans to list on the New York Stock Exchange under the symbol “SEND.”

In the SendGrid’s IPO registration statement, the company said it has achieved significant growth over the past four years, including raising:

  • $42.8 million in revenue in 2014;
  • $58.5 million in 2015;
  • $79.9 million in 2016; and
  • $51.8 million in the first half of 2017.

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Since the Colorado-based company’s launch in July 2009, it has raised more than $80 million in roughly four rounds of funding. The company has also expanded its product with two recent acquisitions: the behavioral email marketing solution Bizzy, which was acquired in March 2017, and Message Bus, a cloud-based email infrastructure provider that was acquired in 2015.

“We believe that email will remain the center of gravity for digital communications for years to come, and that our expertise in helping customers connect through this medium will be an enduring source of strength for our business,” said Sameer Dholakia, CEO of SendGrid, in the IPO registration statement. “We believe equally that the proliferation of emerging communications channels — like messaging/chat platforms, in-app messages, online ads, browser and push notifications, and SMS — creates further potential growth opportunities over time for SendGrid to help our customers optimize their communications across those channels.”