SendGrid seeks $137M in initial public offering

DENVER — Email-technology company SendGrid Inc. hopes to raise as much as $137.2 million in its initial public offering.

The Denver Business Journal reports that the company plans to sell 7.7 million shares, with a maximum price of $15.50 each, according to documents filed with the U.S. Securities and Exchange Commission, Nov. 2. SendGrid filed its IPO, Oct. 19, and will be listed on the New York Stock Exchange under the ticker symbol “SEND.”

SendGrid produces email-management software for businesses and employs 400. The IPO states that the company expects to surpass $100 million in revenue in 2017. The company started in Boulder in 2009 and relocated to Denver in 2016. It’s a graduate of Boulder’s Techstars accelerator, and Boulder venture-capital firm the Foundry Group constitutes one of the company’s largest investors.