Stockholm’s omnichannel tool Sinch raises $1.1 billion in new share issue

Previous investors Temasek and SoftBank (via SB Northstar) re-upped on their commitment and subscribed to a large portion of the issue. Sinch is reporting that the new raise will strengthen its financial position and flexibility after the recent $1.1 billion purchase of Chicago-based voice-comms provider Inteliquent. Founded in 2008 by Henrik Sandell, Johan Hedberg, Kjell Arvidsson, Kristian Männik, and Robert Gerstmann, Sinch is a CPaaS (Communications Platform as a Service) that goes head to head with competitors Amsterdam-based MessageBird (who just last month raised $1 billion of their own) and U.S.-based Twilio and offers brands a variety of ways to communicate with consumers. In a market that Gartner predicts, “By 2023, 90% of global enterprises will leverage CPaaS offerings to enhance their digital competitiveness, up from 20% in 2020,” Sinch has been named the worldwide leader in the segment. Carnegie, Danske Bank, Handelsbanken Capital Markets, JP Morgan and SEB served as collective bookbuilders and determined the share subscription price.