Customer Engagement Firm Braze Jumps After $520 Million IPO (1)

Customer engagement software maker Braze Inc. rose 44% in its trading debut after an initial public offering that priced above the marketed range to raise $520 million.

The company’s shares, which sold for $65 in the IPO, closed at $93.39 in New York trading Wednesday, giving Braze a market value of $8.4 billion. Accounting for employee stock options and restricted stock units, the company has a fully diluted value of more than $9.6 billion.

The company and some of its investors on Tuesday sold 8 million shares that had been marketed for $55 to $60.

Braze was valued at $850 ...