(Bloomberg) -- Customer engagement software maker Braze Inc. rose as much as 43% in its trading debut after an initial public offering that priced above the marketed range to raise $520 million.

Shares of the company opened at $87.20 Wednesday after selling for $65 in the IPO. The company and some of its investors on Tuesday sold 8 million shares that had been marketed for $55 to $60.

The shares were up 35% to $87.57 at 1:12 p.m. in New York trading, giving Braze a market value of $7.9 billion. Accounting for employee stock options and restricted stock units, the company would have a fully diluted value of more than $9 billion.

Braze was valued at $850 million after an $80 million funding round in 2018, according to data provider PitchBook.

The New York-based company’s biggest investors are Battery Ventures and Iconiq Capital, according to the filing. Affiliates of InterWest Partners and Bullpen Capital had planned to sell a combined total of 1.3 million shares in the IPO, according to Braze’s filings with the U.S. Securities and Exchange Commission

Braze had a net loss of $26 million on revenue of $104 million for the six months ended July 31, compared with a loss of $12 million on revenue of $68 million a year earlier, according to its filings. The company’s diverse array of customers includes brands such as Grubhub, IBM and DraftKings, according to its website.

In a letter to investors, co-founder and Chief Executive Officer William “Bill” Magnuson said the coronavirus pandemic has accelerated digital transformation, including the importance of mobile technology for connecting customers to brands.

“As consumers around the globe were staying at home, brands across all industries had to pivot their focus to delivering effective and engaging digital experiences,” Magnuson said. “We are confident that the transformative impact from 2020 will echo into the future, further validating our founding vision.”

The offering was led by Goldman Sachs Group Inc., JPMorgan Chase & Co. and Barclays Plc. The company’s shares are trading on the Nasdaq Global Select Market under the symbol BRZE.

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