What changed in this filing

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Item 1. Business

2025-03-31 compared with 2024-04-01 · 106 added, 83 removed, 317 unchanged (37% of the section changed)

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In addition to avoiding siloed channels and data, our platform empowers real-time engagement between brands and their customers.

The real-time nature of the interactions we enable is crucial, and is made possible by our proprietary, enterprise-grade stream processing architecture.

The real-time nature of the interactions we enable is crucial, and is made possible by our proprietary, enterprise-

grade stream processing architecture.

This architecture receives, contextualizes, and responds to first-party customer data in the moment.

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A key aspect of Braze's differentiation is that we offer a platform, not a point solution, that gives brands an end-to-end solution for achieving their customer engagement goals, not just a tool to send messages.

We vertically integrate our data ingestion, orchestration, classification, and personalization capabilities, so coordinating between them is simple and fast.

We vertically integrate our data activation, insights and segmentation, orchestration, personalization and relevance capabilities and also leverage artificial intelligence (“AI”) investments across each layer of the stack, so coordinating between them is simple and fast.

Meanwhile, we abstract away the particulars of disparate data sources and the vagaries of the many messaging channels we support, so that when marketers implement their customer engagement strategies in Braze, they can maintain a customer-centric mindset – focused on the intersection of the goals of their brand with the needs of the consumer, not the complexity of data integrations or siloed message channels.

This also provides consistency across Braze's classification, orchestration, and personalization feature set, making it easier for our customers to expand across channels, and allowing our R&D investments into areas like predictive intelligence or Braze's Canvas visual development environment to deliver broad impact quickly and efficiently.

This also provides consistency across Braze's insights and segmentation, orchestration, and relevance feature set, making it easier for our customers to expand across channels, and allowing our research and development investments into areas like predictive intelligence or Braze's Canvas visual development environment to deliver broad impact quickly and efficiently.

This product architecture supports differentiated use of AI and machine learning through its comprehensive access to first party-data, and an ability to directly take action to guide the customer journey.

When deployed by our customers, our platform is typically leveraged across nearly all consumer touchpoints and sources of first-party data, including integration of the Braze SDKs into end-user applications and websites, and the configuration of automated connections into customer data warehouses or data platforms.

This enables more advanced automated decision making and creates the opportunity to optimize customer journeys, improving outcomes for consumers and brands through improved content relevance and personalization.

When deployed by our customers, our platform is typically leveraged across consumer touchpoints and sources of first-party data, including integration of the Braze software development kits, or SDKs, into end-user applications and websites, and the configuration of automated connections into customer data warehouses or data platforms via the Braze Data Platform.

This enables more advanced experimentation and automated decision making and also creates the opportunity to personalize and optimize customer journeys at scale.

With BrazeAI, marketers can improve outcomes for both consumers and brands by creating experiences with relevant content, journeys, and offers tailored to each individual.

Our platform also has the promise to improve operational efficiency for the teams that use Braze – as we continue to expand our product surface area and enhance its capabilities by infusing AI, we can help brands create personalized, cross-channel solutions faster, and compound their learnings through automated experimentation and data analysis, ultimately increasing their return on investment over time.

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We support interactions across both in-product and out-of-product messaging channels.

Today, our messaging channels consist of in-app messages (including in-product messaging to apps on connected TV platforms), in-browser messages, surveys, mobile and web push notifications, email, SMS and MMS messages, WhatsApp messaging, webhooks, Content Cards – which are flexible, content-rich messages embedded in a mobile app or web browsers, and Feature Flags, which allows our customers to remotely enable or disable mobile or web experiences for different audiences.

Braze Audience sync unifies owned and paid channels such as Meta and Google and, in the past year, we have launched audience sync to TikTok, Pinterest, Snapchat, and Criteo.

Today, our messaging channels consist of widely used digital channels such as email;

mobile messaging such as SMS, MMS, and RCS messages, WhatsApp and LINE messaging, and webhooks;

as well as in-product and web experiences such as in-app messages (including in-product messaging to apps on connected TV and gaming platforms), in-browser messages, surveys, mobile and web push notifications, Braze Content Cards – which are flexible, content-rich messages embedded in a mobile app or web browsers, Landing Pages – which are standalone web pages with a single call-to-action often used for audience acquisition and conversion, and Feature Flags – which allow our customers to remotely enable or disable mobile or web experiences for different audiences.

Finally, Braze Audience Sync also unifies owned and paid channel strategies across platforms such as Meta, Google, TikTok, Pinterest, Snapchat, and Criteo.

The flexibility of our platform also allows us to add new channels quickly and efficiently as they become relevant to our customers.

We enable brands to easily integrate our platform with both in-house technical infrastructure and our expanding partner ecosystem of best-in-class technologies.

For instance, Braze Cloud Data Ingestion allows our customers to set up a direct connection between their data warehouses or platforms and Braze to automatically sync relevant user attributes, events, and purchases.

Once synced to Braze through Cloud Data Ingestion, this data can be imported into any layer of our platform and can be leveraged for use cases such as personalization or segmentation.

Customers can also use Braze Currents to stream data in real time to those systems, which increases the return on our customers’ other technology investments.

We support direct integrations with cloud data service providers such as Amazon Redshift, Databricks, Google BigQuery, and Snowflake, customer data management platforms such as Rudderstack, analytic solutions such as Amplitude, and other components of the modern marketing technology ecosystem, including integrations with Shopify.

For instance, capabilities within the Braze Data Platform allow our customers to set up a direct connection between their data warehouses or platforms and Braze to automatically sync relevant user attributes, events, and purchases.

Once synced to Braze, this data can be imported into any layer of our platform and can be leveraged for use cases such as personalization or segmentation.

Customers can also use the Braze Data Platform to stream data in real time to those systems, which increases the return on our customers’ other technology investments.

We support direct integrations with a range of providers, including cloud data service and warehouses, customer data platforms, analytics and reporting solutions, as well as other components of the modern marketing technology ecosystem such as eCommerce and Software-as-a-Service, or SaaS, applications.

Our Competitive Strengths

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We not only process data but also create analytical data.

When a consumer interacts with any messaging channel that Braze delivers, or any of the brand’s digital products or services that have been integrated with an embedded Braze software development kit (SDK), that consumer generates data that is processed and contextualized with existing user data models in real time.

When a consumer interacts with any messaging channel that Braze delivers, or any of the brand’s digital products or services that have been integrated with an embedded Braze SDK, that consumer generates data that is processed and contextualized with existing user data models in real time.

This allows marketers to better understand consumer behavior and associate specific content or messaging with in-product engagement, providing further context that can be leveraged for deeper engagement.

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Braze has customers in over 70 countries and an operational presence across North America, Europe and the Asia-Pacific region.

Braze also has local data centers in the United States, Europe and the Asia-Pacific region.

Rapid Time to Value Across the Organization

While for many brands the marketing organization has traditionally owned the responsibility for customer engagement,

cross-functional collaboration enhances the experience for the customer and improves the return on investment for the marketing organization.

While for many brands the marketing organization has traditionally owned the responsibility for customer engagement, cross-functional collaboration enhances the experience for the customer and improves the return on investment for the marketing organization.

For brands that take a collaborative approach, marketing teams work hand-in-hand with data, product and engineering teams to optimize customer engagement.

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Our platform’s ease of use and seamless integration into existing technologies, coupled with the high value data and insights that it generates, enables brands to develop and run campaigns that meet their strategic goals quickly and efficiently.

Using our intuitive user interface and drag-and-drop tools like Canvas, individuals across all roles and technical skill levels can design and quickly deploy multi-message, cross-channel, A/B-tested strategies, with the process of new campaign creation accelerating over time.

Using our intuitive user interface and drag-and-drop tools like Canvas, individuals across all roles and technical skill levels can design and quickly deploy multi-message, cross-channel, A/B- and multivariate-tested strategies, with the process of new campaign creation accelerating over time.

Braze gives teams across a company the power to imagine, create, and evolve brilliant customer experiences.

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When brands partner with us, they get access to strategic and technical advice from our experts and from a community of like-minded, forward-thinking marketers and product leaders.

We provide a number of resources to help brands design effective marketing strategies and use our platform to its maximum capability, including customer success and technical support teams, a comprehensive documentation library, and interactive online learning paths and certifications, including certifications for Braze Certified Practitioners, Braze Certified Marketers, Braze Certified Digital Strategists, or Braze Certified Developers.

Marketers, Braze Certified Digital Strategists, or Braze Certified Developers.

Braze Bonfire, our virtual, global customer community, includes thousands of individuals across a wide spectrum of industries, business sizes, and roles.

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• Acquire new customers:

We intend to continue to expand our customer base in verticals where we already have a strong presence — such as retail, media, and entertainment, on-demand services, gaming, health and lifestyle, and financial services — and to increase our presence in verticals where we are not yet strongly represented.

Through our sales and marketing efforts, we also plan to capitalize on industries and verticals subject to ongoing digital transformation and where direct-to-consumer relationships are accelerating to further propel adoption of our technology, such as Consumables.

We intend to continue to expand our customer base in verticals where we already have a strong presence — such as retail and consumer goods, media and entertainment, telecommunications, restaurants and on-demand services, healthcare and life sciences, technology, manufacturing, education, government and public services, and financial services — and to increase our presence in verticals where we are not yet strongly represented.

• Expand within our existing customer base:

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We believe there is a significant opportunity to continue to expand usage of our platform outside the United States, both by expanding our presence in international markets where we operate today and by entering markets we have not yet penetrated.

For instance, we have operational footprints across North America, Europe and the Asia-Pacific region, and we expect to continue increasing our market penetration in these regions, particularly the Asia-Pacific where we’ve recently expanded our footprint in Indonesia, while further capitalizing on the greenfield opportunities in regions such as Latin America.

For instance, we have operational footprints across North America, South America, Europe, the Asia-Pacific region, and the Middle East.

We expect to continue increasing our market penetration in these regions, while further capitalizing on the greenfield opportunities in regions such as Latin America.

• Expand our technology leadership through continued investment and new products:

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We offer a single, vertically integrated platform that encompasses the major functionalities, or layers, required for modern customer engagement:

data ingestion, classification, orchestration, personalization, and action, all of which is supported by Sage AI by Braze, our AI engine designed to power AI functionality across all layers of this stack.

Data Ingestion

data activation, insights and segmentation, orchestration, relevance, and cross-channel action, all of which is supported by BrazeAI, our AI engine designed to power AI functionality across all layers of this technology stack.

Braze delivers a range of BrazeAI features across all layers of its vertically-integrated technology stack to enable brands to create, personalize and optimize their customer engagement efforts.

Specific features that leverage BrazeAI are noted below within the applicable layer of the technology stack.

Data Activation

The Braze Data Platform is a comprehensive, composable set of Braze capabilities and partner integrations designed to help marketers leverage data to deliver more impactful, scalable customer experiences powered by Braze.

This includes features such as:

• Braze SDKs :

The primary way in which customers integrate our platform into their websites and applications is via our SDKs.

SDKs are software libraries that reside within our customers’ applications or websites, automatically managing data ingestion and the delivery of mobile and web notifications, in-application / in-browser interstitial messages, and Content Cards.

Our SDKs can be integrated into a wide variety of digital interfaces including iOS, Android, Desktop / Mobile Web, connected TVs, the Unity and Unreal game engines, and application development frameworks such as React Native and Cordova.

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The majority of our customers also integrate via connecting to server-to-server APIs.

The Braze REST API can be used to import or export data or to trigger workflows between Braze and brands’ existing technology

The Braze REST API can be used to import or export data or to trigger workflows between Braze and brands’ existing technology stacks.

For example, customers can send messages using Braze within internal business processes or connect Braze to third-party services such as customer data platforms or attribution providers.

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• Braze Cloud Data Ingestion:

Braze Cloud Data Ingestion enables brands to quickly set up a direct connection from a data warehouse to Braze in order to sync relevant customer and product data with Braze.

This enables brands to harness the bulk of their customer data to perform deeper levels of segmentation, message triggering, and personalization without the need to maintain complex data pipelines.

Braze Cloud Data Ingestion supports syncing data from commonly used data platform solutions such as Snowflake, Amazon Redshift, Google BigQuery and Databricks.

Classification

Braze Cloud Data Ingestion is a key example of composability within the Braze Data Platform.

By offering direct connections to all major cloud services and data warehouses, Marketing, Product and Growth teams can access their customer and product data directly from the source – for audience construction, segmentation, message triggering and personalization.

Cloud Data Ingestion removes the need to maintain complex data pipelines and empowers brands with direct data access, without ongoing reliance on technical teams.

Insights and Segmentation

• Segmentation:

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Additionally, customers can use this tool to understand the factors that determine which consumers belong to a particular segment.

• Predictive Suite:

Our Predictive Suite allows customers to identify groups of consumers that are of critical business value such as “consumers who are likely to churn.” Our platform uses machine learning to automatically identify consumers who have a propensity to behave similarly to the identified audience, allowing customers to preemptively engage these consumers and thereby encourage or discourage their predicted behaviors.

• BrazeAI Predictive Suite:

BrazeAI Predictive Suite allows customers to identify groups of consumers that are of critical business value such as “consumers who are likely to churn.” Our platform uses machine learning to automatically identify consumers who have a propensity to behave similarly to the identified audience, allowing customers to preemptively engage these consumers and thereby encourage or discourage their predicted behaviors.

Orchestration

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Customers can analyze the retention uplift caused by a messaging strategy, or create and analyze funnels of actions that were taken by consumers after receiving a message.

◦ Predictive Suite:

◦ BrazeAI Predictive Suite:

The Braze Predictive Suite enables brands to use machine learning to determine what customers are likely to purchase and/or churn without any engineering resources.

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Customers can create custom reports to analyze the total uplift and aggregate statistics from their usage of our platform.

◦ Dashboards:

Braze enables customers to aggregate and further analyze engagement, conversion, deliverability, and other key performance metrics using pre-built, customizable dashboards.

◦ Query Builder and BrazeAI Query Builder:

Customers can generate highly-customized reports using a SQL editor or pre-built template.

The BrazeAI Query Builder makes it easy for marketers to generate SQL from natural language prompting and receive sample SQL query suggestions.

◦ Global Holdout Groups:

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Lifetime value of this holdout group can be easily compared against that of consumers who received the full suite of Braze engagement.

Personalization

• Liquid Templating:

• Liquid Templating and BrazeAI Liquid Assistant:

Customers can personalize messages using the Liquid Templating language to inject personalized content into their messages.

Our platform allows customers to flexibly utilize a wide variety of data in this templating process, including data ingested and stored on consumer profiles, as well as contextual data, such as properties of a consumer action that triggered a message flow.

Our platform allows customers to flexibly utilize a wide variety of data in this templating process, including data ingested and stored on consumer profiles, from Catalogs, as well as contextual data, such as properties of a consumer action that triggered a message flow.

Personalization options include use cases such as listing a set of consumer-specific recommendations or creating sophisticated if/else logic inside of a message to conditionally determine what content to deliver.

The BrazeAI Liquid Assistant makes it easy for marketers to generate Liquid from templates, receive personalized Liquid suggestions, and optimize existing Liquid using natural language prompting.

The assistant also provides annotations explaining the Liquid used, so marketers can further develop their skills and understanding of Liquid.

• Connected Content:

Customers can connect to remote servers (including both third-party partners and first-party customer-owned endpoints) and pull back data for advanced personalization use cases.

For example, customers can personalize messages on a one-to-one basis by connecting to a recommendation engine or modify messages to a user based upon the current weather at the user’s location.

For example, customers can

personalize messages on a one-to-one basis by connecting to a recommendation engine or modify messages to a user based upon the current weather at the user’s location.

• Content Management:

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Customers can also utilize our generative AI functions to support the development of new content or images, and use our approval workflows to provide additional oversight of how and when content is used in campaigns.

◦ BrazeAI Content Generation and Quality Assurance:

▪ AI Copywriting Assistant :

The BrazeAI copywriting assistant enables customers to generate relevant copy that references their brand personality and guidelines.

Customers can generate marketing copy directly in message composers in the Braze dashboard, offering inspiration for new approaches to copy or helping to scale personalized, on-brand copy across customer experiences.

▪ AI Image Generator :

Customers can generate images for their media library using BrazeAI.

This system can create realistic images and art from a description in natural language.

▪ AI Content QA :

Content QA using BrazeAI performs checks on the content of a message, confirming that it adheres to quality standards by identifying ineffective elements such as spelling errors, grammar issues, inappropriate tone, and offensive language.

• Intelligent Timing and Channel:

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Our platform can send each user the campaign variant they are most likely to engage with based on an analysis of how users with similar profiles responded to each variant in an initial A/B test.

• AI Item Recommendations:

• BrazeAI Item Recommendations:

Customers can calculate what is likely to be the most popular item or product or create personalized AI recommendations from a specific catalog which can then be inserted into messages.

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Catalogs can also be used for basic product recommendation use cases.

Cross-Channel Action

• In-Product Messaging and Experimentation:

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These in-experience messages can be built from templates using our drag and drop editor or built from scratch with nearly infinite customizability.

◦ Content Cards:

In addition to ephemeral messages, we offer Content Cards, a proprietary Braze product where a personalized feed of user-controllable content is embedded directly into applications and browsers for persistent viewing.

◦ Braze Content Cards:

In addition to ephemeral messages, we offer Braze Content Cards, a proprietary product where a personalized feed of user-controllable content is embedded directly into applications and browsers for persistent viewing.

◦ Feature Flags:

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This allows customers to safely roll out new features with confidence and coordinate roll-outs with messaging across the full set of channels supported by our platform.

◦ Landing Pages :

Landing Pages are standalone webpages that customers can use to drive user acquisition and engagement.

Customers can use our native Landing Page builder to create and launch custom landing pages in a drag and drop editor.

This allows customers to capture new leads or, if used throughout the customer lifecycle, to drive conversions on upsells, loyalty programs, content downloads, referrals, and more.

• Out-of-Product Messaging:

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We also support advanced email content types, such as Accelerated Mobile Pages, which enables marketers to embed interactive elements.

◦ SMS and MMS:

Our platform offers a native product for SMS and MMS messaging.

In addition to sending messages via the SMS and MMS protocols, customers can manage links and analytics and respond to inbound keyword responses with an automated follow-up message.

◦ SMS, MMS, and RCS:

Our platform offers a native product for SMS, MMS, and RCS messaging.

In addition to sending messages via the SMS, MMS, and RCS protocols, customers can manage links and analytics and respond to inbound keyword responses with an automated follow-up message.

◦ Ad Network Integrations:

Using Braze Audience Sync with Meta, TikTok, Google, Snapchat, Pinterest, or Criteo, brands can sync user data from Braze to each respective advertising platform to deliver advertisements outside the Braze platform based upon behavioral triggers, segmentation and more.

Using Braze Audience Sync with Meta, Google, TikTok, Snapchat, Pinterest, or Criteo, brands can sync first-party data from Braze to each respective advertising platform to deliver more relevant advertisements outside the Braze platform based upon behavioral triggers, segmentation and more.

◦ WhatsApp Integration:

Our platform is directly integrated with the WhatsApp Cloud API, making it easy to natively compose and orchestrate two-way messages as part of any cross-channel campaign in Braze.

Our platform is directly integrated with the WhatsApp Cloud API, making it easy to natively compose and orchestrate two-way messages as part of cross-channel campaigns in Braze.

◦ LINE Integration :

Our platform is also integrated with LINE.

Brands can leverage zero- and first-party data to compose and orchestrate relevant LINE messages as a part of any cross-channel campaign in Braze.

Our platform offers flexible webhooks, allowing customers to connect Braze to any external application via outbound web requests, using all of the targeting and templating mechanisms available on other channels.

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• Braze Currents:

All data sent to and generated by our platform can be exported to a range of partner systems.

All data sent to and generated by our platform can be continuously exported to a range of partner systems.

These systems include data storage partners such as Microsoft Azure, Amazon Web Services, and Google Cloud;

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• Operations and Administration:

We provide audit logs for major actions that occur in our platform, change logs for updates to objects such as Campaigns, Segments, or Canvases on our dashboard, and permissions, versioning and approval flow capabilities in various parts of the product.

We provide audit logs for major actions that occur in our platform, change logs for updates to objects such as Campaigns, Segments, or Canvases on our dashboard, and permissions, commenting, versioning and approval flow capabilities in various parts of the product.

Furthermore, we offer, and plan to expand on, debugging capabilities in the platform that allow customers to better troubleshoot their integrations and messaging strategies.

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We provide a complete set of Role-Based Access Controls to allow large global teams to manage our platform effectively.

In addition to these Role-Based Access Control mechanisms, we offer Braze Teams, which allows customers to break their consumer base into segments based on the consumer’s country, language, or a custom attribute.

In addition to these Role-Based Access Control mechanisms, we offer Braze

Teams, which allows customers to break their consumer base into segments based on the consumer’s country, language, or a custom attribute.

With Braze Teams, customers can create groups to manage individual regions or subsets of their businesses while restricting the ability of specified users to view or manage data outside of their assigned region.

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There are several established and emerging competitors that address specific aspects of customer engagement, but we believe that none of our competitors currently offer comparable comprehensive customer engagement solutions.

We face intense competition from software companies that offer marketing solutions, such as legacy marketing clouds like Adobe and Salesforce, and point solutions like Airship, Iterable, Klaviyo, Clevertap (Leanplum) and MoEngage.

We face competition from software companies that offer marketing solutions, such as legacy marketing clouds like Adobe and Salesforce, and point solutions like Airship, Iterable, Klaviyo, CleverTap and MoEngage.

Many of our existing competitors have, and our potential competitors could have, substantial competitive advantages, such as greater name recognition, longer operating histories, larger sales and marketing budgets and resources, greater customer support resources, lower labor and development costs, larger and more mature intellectual property portfolios and substantially greater financial, technical and other resources than we do.

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This could harm our ability to increase sales, maintain or increase subscription renewals, and maintain our prices.

Conditions in our market could change rapidly and significantly as a result of technological advancements, partnering among our competitors or continuing market consolidation.

Conditions in our market could change rapidly and significantly as a result of advancements in AI and other technologies, partnering among our competitors or continuing market consolidation.

Some of our larger competitors also have substantially broader product lines and market focus and therefore may not be as susceptible to downturns in a particular market.

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Our marketing activities are designed to build broad brand awareness, generate thought leadership and create demand and leads for our sales organizations within our target markets.

Our marketing programs target influencers and decision makers participating in the buying cycle, including the Chief Customer Officer, Chief Digital Officer, Chief Marketing Officer, Chief Technology Officer, and other key functional marketing and technology heads.

Our marketing programs target influencers and decision makers participating in the buying cycle, including the Chief Digital Officer, Chief Marketing Officer, Chief Product Officer, Chief

Technology Officer, and other key functional marketing and technology heads.

Additionally, we conduct marketing programs to engage with our customers to promote upsell and cross-sell opportunities, and we engage with industry analysts, consulting firms, marketing service providers, data and technology partners, marketing agencies and other platform partners, business and trade press and other industry experts who exert considerable influence in our market.

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However, we also use open source software in our services.

As of January 31, 2024, we owned 25 patents and had two patent applications pending for examination in the United States and no non-U.S.

As of January 31, 2025, we owned 26 patents and had four patent applications pending for examination in the United States and no non-U.S.

patents or patent applications.

The pending U.S.

patent applications, if issued, would be scheduled to expire in 2043.

patent applications, if issued, would be scheduled to expire at various times between 2043 and 2044.

As of January 31, 2025, we owned six registered trademarks in the United States and 48 registered trademarks in various non-U.S.

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We experience seasonality in our cost of revenue as a result of our customers’ increased usage of our platform based on their business demands.

Management’s Discussion and Analysis of Financial Condition and Results of Operations—Seasonality” for additional information.

See “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Seasonality” for additional information.

Privacy, Data Security and Data Protection

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Further, U.S.

federal and state consumer protection laws may require us to publish statements that accurately and fairly describe how we handle personal data and rights individuals may have about the way we handle their personal data.

federal and state

consumer protection laws may require us to publish statements that accurately and fairly describe how we handle personal data and rights individuals may have about the way we handle their personal data.

European data privacy and security laws (including the EU GDPR and U.K.

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Accordingly, these core values represent not only the ideals of our business, but the guiding tenets of how we operate every day, including how we communicate, how we make decisions, and how we treat our customers and our colleagues.

Diversity, Equity, and Inclusion

We believe our impact is greatest when our workforce represents the diverse and global community that we serve.

Accordingly, we established our Social Impact Department in 2021 in support of our view that diversity, equity and inclusion, or DEI, efforts are integral to our success and a key part of our core values.

Our DEI efforts include:

• Hiring Practices:

We use a number of techniques focused on the achievement of a diverse workforce.

For instance, we try to utilize recruitment strategies that will provide a diverse pipeline of candidates, including partnerships with affinity organizations and conferences that support underrepresented populations from which we can source talent.

• Employee Resource Groups:

Employee resource groups (or ERGs) at Braze are employee-led and organizationally-supported groups of employees that are drawn together by shared characteristics (such as ethnicity, gender, sexual orientation, etc.) or shared interests.

Our employee resource groups serve as a resource, point of connection and community for underrepresented employees and their allies, and are an important part of building and maintaining an equitable, diverse and inclusive workforce and community.

ERGs provide employees with opportunities to develop leadership skills, learn about other cultures and build relationships across the company.

• Cultural Education, Bias Mitigation and Allyship:

We provide regular programming on inclusion, cultural awareness, bias mitigation and allyship, including through partnerships with third parties.

All new hires are required to participate in unconscious bias and diversity training.

Additional information on our diversity and inclusion strategy, and diversity metrics and programs can be found in our social impact report, which we publish annually and make available on our investor relations website at www.investors.braze.com.

Nothing on our website shall be deemed incorporated by reference into this Form 10-K.

Social, Environmental, and Community Initiatives

Our core values not only express how we drive our business, but they also reflect how we seek to support the communities of which we are a part.

To support this, we have established a Social Impact Department.

This department oversees our corporate social responsibility, sustainability and DEI initiatives under the pillars of Community, Equity and Environment.

We desire to improve our communities through a number of social initiatives, core among them our product grant program, Tech for an Equitable Future.

The Tech for an Equitable Future aims to remove barriers and accelerate business growth for underrepresented founders, including women founders, by providing 12 months of free access to the Braze platform and supporting services.

As of January 31, 2024, the initiative— originally launched in 2020 as Tech for Black Founders and expanded into Tech for an Equitable Future in December 2023— provides 24 startups led by underrepresented founders free access to Braze.

Companies led by one or more underrepresented founders that have bootstrapped or raised less than $30.0 million in venture capital financing and with fewer than 100 employees are eligible for inclusion in this program.

Annually, we publish an ESG report, which summarizes the progress of ESG issues (including DEI, data privacy matters, corporate governance programs, our estimated greenhouse gas emissions, and climate change programs, among others).

The information contained within our ESG report is not incorporated by reference into this filing.

We have established the Braze Cares initiative which focuses on our charitable giving and fostering opportunities for our employees to volunteer in their communities.

During the fiscal year ended January 31, 2024, through our Braze Cares program, we and our employees have made donations of approximately $0.2 million to 892 organizations.

Our employees have also volunteered with numerous organizations worldwide as part of this program.

In 2021, we became a member of the Pledge 1% movement, through which we have reserved up to 964,647 shares of our Class A common stock, which we may continue to donate to a donor advised fund, or DAF, through 2031, to fund our social impact and environmental, social, and governance initiatives.

Social Impact

We established our Social Impact Department in 2021.

Our social impact efforts include the Braze for Impact Fund, corporate social responsibility, programs supporting a global and inclusive culture, and sustainability and environmental, social, and governance, or ESG, reporting.

These initiatives are designed with the intention of fostering a culture of advocacy that drives material, employee-led impact.

In 2021, we became a member of the Pledge 1% movement, through which we have reserved up to 964,647 shares of our Class A common stock, which we may continue to donate to the Braze for Impact donor advised fund, or DAF, through 2031, to fund our social impact initiatives.

The Braze Cares and Tech for an Equitable Future programs comprise our corporate social responsibility initiatives.

Braze Cares is our employee donation and volunteering program.

Tech for an Equitable Future is our product grant program for underrepresented founders, which offers 12 months of free access to Braze technology and supporting resources that enable business growth and scalability for qualifying companies.

Braze supports a global and inclusive culture focused on creating a sense of belonging in the Braze community that empowers each individual to contribute to our culture and our success.

At its foundation, the company aims to grow and nurture

an inclusive environment where each person uses their skills, talents, backgrounds and perspectives to contribute to the business success at Braze.

We do this through making our processes and systems inclusive by design, monitoring the efficacy of our processes and systems, and delivering programs that enhance the Braze community.

Lastly, we maintain an ESG reporting function.

Our sustainability function includes an annual greenhouse gas emissions audit, emission reductions programs, our climate commitments, and ESG disclosures.

We also publish an annual ESG report.

The information in our annual ESG report is not incorporated by reference into this filing.

Human Capital

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We were incorporated in Delaware in 2011.

Our headquarters is located at 330 West 34th Street, Floor 18, New York, New York 10001 and our telephone number is (609) 964-0585.

Our headquarters is located at 63 Madison Building, 28 East 28th Street, Floor 12, New York, New York 10016 and our telephone number is +1 (609) 964-0585.

Our website address is www.braze.com.

7 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business