Email Startup SendGrid Raises $131 Million in IPO

Rare public debut for a Colorado tech firm is latest in spur of capital markets activity

Colorado – November 16, 2017 – Cooley advised digital communication platform SendGrid on its $131.2 million initial public offering of 8.2 million shares of common stock. The underwriters have an option to purchase additional shares. Michael Platt, partner in charge of Cooley’s Colorado office, led the team advising SendGrid.

Morgan Stanley & Co. and J.P. Morgan Securities acted as joint book-running managers for the offering. William Blair & Company, KeyBanc Capital Markets, Piper Jaffray & Co. and Stifel, Nicolaus & Co. acted as co-managers for the offering.

Founded in 2009 after graduating from the TechStars program, SendGrid developed an industry-disrupting, cloud-based email service to solve the challenges of reliably delivering emails on behalf of growing companies. SendGrid was born from the frustration of three engineers whose application emails didn’t get delivered, so they built an app for email deliverability. The company will trade on the New York Stock Exchange under the symbol “SEND.”

In addition to SendGrid, Cooley has recently advised on a string of capital markets activity, including the IPOs for tech issuers Roku, MongoDB and Aquantia. According to data from IPO Vital Signs and Pitchbook, Cooley is the #1 ranked law firm for VC-backed IPOs across all industries in the first three quarters of 2017.

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Related Contacts
Michael Platt  Partner in Charge – Colorado Colorado
Eric Jensen  Partner Palo Alto, San Francisco
Matthew Dubofsky  Partner Colorado
Paula Holland  Partner London
Joshua Friedman  Partner Boston
Danielle Wheeler  Associate Colorado
Jason Minio  Senior Paralegal Boston
Mary Maher Lewis  Associate Reston
Robin K. Lee  Paralegal Specialist Colorado
Katherine Duplay  Paralegal Specialist Colorado