SendGrid raises $131M in IPO

Friday November 17, 2017 0 comments Tags: Denver, SendGrid, Isaac Saldana, Jose Lopez, Tim Jenkins, TechStars

DENVER -- SendGrid raised $131 million this week in a successful IPO with shares generally priced at around $18 each.SendGrid_logoNEW

SendGrid has previously raised about $194 million from private investors.

SendGrid helps companies send emails for newsletters, rewards programs, confirmations on purchases and email marketing campaigns.

The company has 58,000 customers, including Spotify, Uber, Airbnb and Staples, sending 36 billion emails a month on their behalf. 

SendGrid generated more than $80 million in revenue in the first nine months of 2017, compared to $57 million for the same period in 2016 -- a 41% increase. 

Net losses were $4.2 million for the 2017 period and $3.5 million for the period in 2016.

SendGrid is the first company from the Boulder-based TechStars incubator program to graduate to an IPO.

Founded in 2009 by Isaac Saldana, Jose Lopez and Tim Jenkins, SendGrid now employs more than 400 workers.