Software startup Sprinklr shares fall in NYSE debut, valued at US$3.7 billion

REUTERS -Shares of Sprinklr Inc, which counts Microsoft Corp and Verizon Communications Inc as customers, fell nearly 9per cent in their U.S. stock market debut on Wednesday, valuing the software startup at about US$3.7 billion.

Of the shares offered, existing shareholders, including Hellman & Friedman, Battery Ventures and ICONIQ Strategic Partners, have agreed to purchase about 3.13 million shares. Its artificial intelligence-powered Unified-CXM software enables all customer-oriented functions in front office management, from customer care to marketing."In five to 10 years, the customer facing organization will buy primarily two platforms - one CRM platform for all the traditional capabilities and a unified CXM platform for all the modern digital capabilities - and they'll work very well together," Chief Executive Officer Ragy Thomas told Reuters.

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