Braze

Braze (formerly known as Appboy) is a customer engagement platform that allows marketers to connect to its customer data to map out the customer journey and deliver customized experiences via many channels including email, SMS, and web-based push notifications. Braze offers machine learning-powered behavioral analytics tools to provide insights that facilitate dynamic customer segmentation and personalized customer campaigns. In July 2022, the firm launched Braze Canvas Flow , a customer journey orchestration tool enabling brands to build multi-channel customer experiences. In June 2023, the firm announced the beta launch of Braze Instant Insights, a suite of Snowflake Native Apps on Snowflake Marketplace. 

According to a study by Forrester (in October 2021), Braze’s customers are reported to experience an 840% return on investment (ROI) delivered over three years and a three-month payback period. 

In March 2023, the company acquired North Star, its exclusive reseller in Australia and New Zealand (ANZ), to have direct presence in the ANZ market, as well as the benefit of the North Star team's local market knowledge.

Key customers and partnerships

By August 2022, 1,700+ brands were reported to be using Braze’s platform, including HBO, Dominos, Roku, IBM,  and Sephora

Braze’s platform also offers a range of integrations and verified partners connecting its platform to the rest of a firm’s marketing stack. In 2021 alone, the firm added many partners and integrations to its platform, including Adobe, Amperity, Rudder Stack, and Shopify. 

Funding and financials

Braze had 10 rounds of funding, the latest of which took place in October 2018 when it raised USD 80 million in a Series E with a valuation of USD 850 million. Braze made its debut on the NASDAQ in November 2021 raising USD 457.1 million with a valuation of USD 5.9 billion.

For FY23, Braze achieved a revenue of USD 355.4 million (49.3% YoY growth) supported by strong growth in customers. However, the non-GAAP operating loss widened by 124% YoY to USD 69.5 million in FY23. On the back of robust Q2 FY24 performance, the firm revised its FY24 revenue target to USD 451.5 million and USD 454.5 million (27%–28% YoY growth) and a non-GAAP operating loss between USD 47 million and USD 49 million.