Braze, Inc. reports developments around its customer engagement platform for brands, including fiscal results, guidance updates, investor conference activity, and management changes. Its announcements commonly discuss subscription revenue, customer growth, dollar-based net retention, operating leverage, and the platform's role in cross-channel messaging, journey orchestration, personalization, and real-time data activation.
Product news centers on BrazeAI, including BrazeAI Decisioning Studio, BrazeAI Operator, BrazeAI Agent Console, and creative tools for marketers. Company research releases also address AI adoption, customer trust, data use, and industry use cases across retail and e-commerce, media and entertainment, financial services, travel, and hospitality.
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Stitch, a boutique marketing technology consultancy, has announced an exclusive partnership with Braze (NASDAQ: BRZE), a comprehensive customer engagement platform. The partnership aims to disrupt the legacy marketing cloud ecosystem by offering innovative customer engagement solutions. Stitch, launched in 2022, provides services around best-in-breed technologies to help marketers drive meaningful ROI.
Led by Co-Founder and CEO Michael Burton and Co-Founder and Chief Solutions Officer Bobby Tichy, Stitch offers strategy, implementations, integrations, campaign services, and program management. The company also provides targeted services to help marketers migrate from legacy platforms to Braze, which was recently named a category leader in Cross-Channel Marketing Hubs by Forrester Wave.
This partnership focuses on solving key marketing challenges, including easier access to first-party data, improved data activation for customer engagement, and leveraging flexible, modern technology for true ROI. Stitch is an accredited Braze Flight partner and is committed to developing deep expertise in the Braze platform to ensure success for their mutual customers.
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Braze has announced the appointment of Fernando Machado, former Global CMO of NotCo, to its Board of Directors, replacing Matthew Jacobson, who served for over five years. Machado is recognized for his innovative marketing strategies and extensive industry experience, previously holding positions at Activision Blizzard and Restaurant Brands International. Braze's CEO, Bill Magnuson, emphasized Machado's vision for integrating creativity with technology to enhance customer engagement. This leadership change aims to bolster Braze's strategic direction and strengthen its market position.
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Braze (Nasdaq: BRZE) has announced a definitive agreement to acquire North Star, its exclusive reseller in Australia and New Zealand (ANZ). This acquisition, expected to close in Q2 of FY24, aims to establish a direct market presence for Braze in the ANZ region. North Star has been Braze's reseller since 2016, serving major clients like Canva and KFC Australia. The deal will enhance Braze's operational efficiency and expand its market reach, leveraging North Star's local expertise and existing customer relationships.
Braze (Nasdaq: BRZE) reported a 40% year-over-year revenue growth in Q4 2023, reaching $98.7 million, driven by new customers and upsells. For the fiscal year, total revenue was $355.4 million, a 49.3% increase from the prior year. The company achieved a dollar-based net retention rate of 124% for the trailing 12 months. GAAP operating loss improved to $36.5 million, down from $42.6 million. Braze has initiated guidance for FY 2024 with revenue projected between $433 million and $438 million. The company also plans to acquire North Star, enhancing its presence in the Australia and New Zealand markets.
WPP has announced a strategic partnership with Braze, focusing on integrations to boost customer engagement through first-party data. This collaboration aims to enhance client abilities in customer activation, retention, and loyalty strategies by providing tailored, agile solutions and real-time segmentation. Clients will gain early access to innovative products and training. WPP, recognized as Braze’s most accredited global partner, plans to integrate creative and data capabilities with Braze’s technology for seamless, impactful customer experiences. This partnership positions both companies to set new standards in cross-channel marketing.
Braze announced the general availability of native support for WhatsApp on its customer engagement platform. This integration enables marketers to orchestrate and send WhatsApp campaigns directly through Braze, leveraging the platform’s rich features and two-way messaging capabilities. With over 2 billion active users, WhatsApp is crucial for personalized customer interactions that drive conversions. Brands can streamline onboarding and optimize marketing spend by eliminating redundant technologies. Early results from clients, like Lookiero, show up to a 28% uplift in campaign effectiveness compared to other channels, highlighting the potential for improved customer retention.