Sprinklr is an American software company based in New York City that develops a

SaaS Software as a service (SaaS ) is a software licensing and delivery model in which software is licensed on a subscription basis and is centrally hosted. SaaS is also known as "on-demand software" and Web-based/Web-hosted software. SaaS is cons ...

customer experience management Customer experience (CX) is a totality of cognitive, affective, sensory, and behavioral consumer responses during all stages of the consumption process including pre-purchase, consumption, and post-purchase stages. Pine and Gilmore described ...

(CXM) platform. The company's software, also called Sprinklr, combines different applications for

social media marketing Social media marketing is the use of social media platforms and websites to promote a product or service. Although the terms e-marketing and digital marketing are still dominant in academia, social media marketing is becoming more popular for ...

, social advertising,

content management Content management (CM) is a set of processes and technologies that supports the collection, managing, and publishing of information in any form or medium. When stored and accessed via computers, this information may be more specifically referre ...

collaboration Collaboration (from Latin ''com-'' "with" + ''laborare'' "to labor", "to work") is the process of two or more people, entities or organizations working together to complete a task or achieve a goal. Collaboration is similar to cooperation. Most ...

, employee advocacy, customer care, social media research, and

social media monitoring Social media analytics is the process of gathering and analyzing data from social networks such as Facebook, Instagram, LinkedIn, or Twitter. A part of social media analytics is called social media monitoring or social listening. It is commonly ...

. Sprinklr was founded in 2009 by technology executive Ragy Thomas. On June 23rd, 2021, the company went public on the New York Stock Exchange under the symbol CXM.

History

Sprinklr was founded in 2009 by Ragy Thomas, a technology marketing executive previously with email marketing company Bigfoot International. Thomas initially funded the company himself, with servers operating out of the basement of his home. The company's name came from the metaphor of a brand carefully watering their social media presence. Early customers included Cisco, Dell and Virgin America. In March 2015, the company announced the launch of its Experience Cloud platform, a way for companies to manage interactions over 23 social media channels and websites. In April 2017, the company expanded from social media management to customer experience management, with the launch of new products for its Experience Cloud platform, ranging from social listening tools to content marketing. In October, the company added eight additional products integrated with Experience Cloud. In April 2018, Sprinklr released artificial intelligence (AI) capabilities called Sprinklr Intuition, allowing automatic collection and analysis of social media data. As of October 2018, it was reported that the company had over 1,500 customers. In May 2019, the company released Product Insights, an AI capability that automatically categorizes customer comments across social media and review sites about product feedback related to design, packaging, performance or features. As of December 2019, the company reported over 1,500 employees, and 25 offices in 15 countries, located across North and South America, Europe and Asia-Pacific. In 2020, Sprinklr offered case tracking services to the Kerala government in India, as part of an app to assist with managing the COVID-19 outbreak. In April 2020, the opposition party to the government accused the company of compromising patient data related to COVID-19 patients, and criticized the services for being awarded without following proper procedures. The company denied the charges, claiming that the data used in its platform is owned and controlled by the government and stored in India, in compliance with India's data privacy regulations. The government confirmed with the

Kerala High Court The High Court of Kerala is the highest court in the Indian state of Kerala and the Union territory of Lakshadweep. It is located in Kochi. Drawing its powers under Article 226 of the Constitution of India, the High Court has the power to issu ...

through an affidavit that the Covid-related data was managed by Kerala's

Centre for Development of Imaging Technology The Centre for Development of Imaging Technology (C-DIT) was established by the government of Kerala in 1988 for the advancement of research, development and training in imaging technology. C-DIT has four groups, each specialising in a core area ...

(C-DIT) in the Amazon Web Services cloud, and that no Sprinklr employees had any access to the data. On June 23, 2021, Sprinklr began trading as a public company on the New York Stock Exchange under the symbol CXM. During the 2022 season, Sprinklr became a sponsor for the BWT F1 Alpine team.

Funding

In March 2012, the company received its first outside funding. In May 2014, the company announced a $40 million funding round, bringing it to a $500 million valuation. In March 2015, a $46 million series E funding round gave the company a value of $1.17 billion. In July 2016, the company announced a $105 million funding round for a valuation of $1.8 billion. In September 2020, Sprinklr raised $200 million from private-equity firm Hellman & Friedman in a deal that valued the customer experience management company at $2.7 billion.

Acquisition strategy

Sprinklr uses its funding to acquire smaller firms that have tools Sprinklr wanted to build itself. To facilitate integration, Sprinklr discards the purchased technology and has the acquired company's employees develop a native Sprinklr version of the software.

Acquisitions

In March 2014, Sprinklr acquired Dachis Group, adding abilities for employee advocacy,

competitive intelligence Competitive intelligence (CI) is the process and forward-looking practices used in producing knowledge about the competitive environment to improve organizational performance. It involves the systematic collection and analysis of information from ...

, social business

consulting services A consultant (from la, consultare "to deliberate") is a professional (also known as ''expert'', ''specialist'', see variations of meaning below) who provides advice and other purposeful activities in an area of specialization. Consulting servic ...

, and

content marketing Content marketing is a form of marketing focused on creating, publishing, and distributing content for a targeted audience online. It is often used by businesses in order to achieve the following goals: attract attention and generate leads, exp ...

. In August 2014, Sprinklr acquired TBG Digital, one of Facebook's largest ad buying clients, to improve its paid social advertising capability. Later in September, Sprinklr acquired brand advocacy company Branderati. In June 2015, Sprinklr bought text analytics vendor NewBrand. In November 2015, the company acquired data segmentation firm Booshaka. In April 2016, the company acquired social analytics startup Postano. In December 2019, the company acquired the social advertising business from ad management company Nanigans.

References

{{DEFAULTSORT:Sprinklr Marketing companies established in 2009 Companies listed on the New York Stock Exchange Search engine optimization Software companies based in New York City Social software 2021 initial public offerings Software companies established in 2009 2009 establishments in New York City