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.

About Cooley LLP

Clients partner with Cooley on transformative deals, complex IP and regulatory matters, and high-stakes litigation, where innovation meets the law.

Cooley has 900 lawyers across 12 offices in the United States, China and Europe.

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