SendGrid Goes Public, Bringing in $131 Million

Marketing technology company SendGrid raised $131 million after pricing its IPO at $16, above the expected range of $13.50 to $15.50. The company also increased the size of its IPO, selling 8.2 million shares, 500,000 more than its target of 7.7 million.

SendGrid, founded in 2009, is a cloud-based customer communication platform that aims to drive engagement and business growth. According to the company, SendGrid’s platform delivers 30 billion emails each month for a broad range of companies, including Airbnb, Pandora, Uber, Intuit and Costco.