Braze, Inc. received an updated ownership report on its Class A common stock from a group of Battery Ventures–affiliated funds and individuals, filed as Amendment No. 5 to Schedule 13G. The filing is as of December 31, 2025.
The report details how various Delaware limited partnerships and LLCs, along with several U.S. individuals, beneficially own Braze Class A shares, generally in low single‑digit percentages. The largest reported stake is 5.3% of the Class A common stock, beneficially owned by Neeraj Agrawal, with others such as Michael M. Brown, Jesse Feldman, and Scott R. Tobin each around the 4–5% range.
Percentages are calculated using 102,267,368 Class A shares outstanding as of December 2, 2025, plus 3,062,821 Class B shares converted into an equal number of Class A shares by certain reporting persons. The filing is characterized as a passive Schedule 13G, and the reporting persons expressly disclaim forming a group.
Positive
None.
Negative
None.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 5)
BRAZE, INC.
(Name of Issuer)
Class A Common Stock, $0.0001 par value per share
(Title of Class of Securities)
10576N102
(CUSIP Number)
12/31/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
10576N102
1
Names of Reporting Persons
Battery Ventures XI-A, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
714,569.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
714,569.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
714,569.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.7 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP No.
10576N102
1
Names of Reporting Persons
Battery Ventures XI-B, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
188,805.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
188,805.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
188,805.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.2 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP No.
10576N102
1
Names of Reporting Persons
Battery Ventures XI-A Side Fund, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
742,400.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
742,400.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
742,400.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.7 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP No.
10576N102
1
Names of Reporting Persons
Battery Ventures XI-B Side Fund, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
160,974.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
160,974.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
160,974.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.2 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP No.
10576N102
1
Names of Reporting Persons
Battery Investment Partners XI, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
33,116.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
33,116.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
33,116.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.0 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP No.
10576N102
1
Names of Reporting Persons
Battery Partners XI, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
936,490.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
936,490.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
936,490.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.9 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP No.
10576N102
1
Names of Reporting Persons
Battery Partners XI Side Fund, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
903,374.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
903,374.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
903,374.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.9 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP No.
10576N102
1
Names of Reporting Persons
Battery Ventures Select Fund I, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,537,467.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,537,467.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,537,467.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
2.4 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP No.
10576N102
1
Names of Reporting Persons
Battery Partners Select Fund I, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,537,467.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,537,467.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,537,467.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
2.4 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP No.
10576N102
1
Names of Reporting Persons
Battery Investment Partners Select Fund I, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
250,958.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
250,958.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
250,958.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.2 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP No.
10576N102
1
Names of Reporting Persons
Battery Partners Select Fund I GP, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,788,425.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,788,425.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,788,425.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
2.6 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP No.
10576N102
1
Names of Reporting Persons
Neeraj Agrawal
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
1,077,859.00
6
Shared Voting Power
4,628,289.00
7
Sole Dispositive Power
1,077,859.00
8
Shared Dispositive Power
4,628,289.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,706,148.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.3 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
CUSIP No.
10576N102
1
Names of Reporting Persons
Michael M. Brown
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
355,566.00
6
Shared Voting Power
4,628,289.00
7
Sole Dispositive Power
355,566.00
8
Shared Dispositive Power
4,628,289.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,983,855.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.7 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
CUSIP No.
10576N102
1
Names of Reporting Persons
Morad Elhafed
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
97,411.00
6
Shared Voting Power
2,788,425.00
7
Sole Dispositive Power
97,411.00
8
Shared Dispositive Power
2,788,425.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,885,836.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
2.7 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
CUSIP No.
10576N102
1
Names of Reporting Persons
Jesse Feldman
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
432,080.00
6
Shared Voting Power
4,628,289.00
7
Sole Dispositive Power
432,080.00
8
Shared Dispositive Power
4,628,289.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,060,369.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.7 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
CUSIP No.
10576N102
1
Names of Reporting Persons
Russell L. Fleischer
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
237,585.00
6
Shared Voting Power
4,628,289.00
7
Sole Dispositive Power
237,585.00
8
Shared Dispositive Power
4,628,289.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,865,874.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.6 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
CUSIP No.
10576N102
1
Names of Reporting Persons
Roger H. Lee
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
22,031.00
6
Shared Voting Power
4,628,289.00
7
Sole Dispositive Power
22,031.00
8
Shared Dispositive Power
4,628,289.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,650,320.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.4 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
CUSIP No.
10576N102
1
Names of Reporting Persons
Chelsea R. Stoner
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
243,737.00
6
Shared Voting Power
4,628,289.00
7
Sole Dispositive Power
243,737.00
8
Shared Dispositive Power
4,628,289.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,872,026.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.6 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
CUSIP No.
10576N102
1
Names of Reporting Persons
Dharmesh Thakker
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
217,772.00
6
Shared Voting Power
4,628,289.00
7
Sole Dispositive Power
217,772.00
8
Shared Dispositive Power
4,628,289.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,846,061.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.5 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
CUSIP No.
10576N102
1
Names of Reporting Persons
Scott R. Tobin
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
343,754.00
6
Shared Voting Power
4,628,289.00
7
Sole Dispositive Power
343,754.00
8
Shared Dispositive Power
4,628,289.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,972,043.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.7 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
BRAZE, INC.
(b)
Address of issuer's principal executive offices:
330 WEST 34TH STREET, FLOOR 18, NEW YORK, NY, 10001.
Item 2.
(a)
Name of person filing:
The names of the persons filing this report (collectively, the "Reporting Persons") are:
Battery Ventures XI-A, L.P. ("BV11-A")
Battery Ventures XI-B, L.P. ("BV11-B")
Battery Ventures XI-A Side Fund, L.P. ("BV11-A SF")
Battery Ventures XI-B Side Fund, L.P. ("BV11-B SF")
Battery Investment Partners XI, LLC ("BIP11")
Battery Partners XI, LLC ("BP11")
Battery Partners XI Side Fund, LLC ("BP11SF")
Battery Ventures Select Fund I, L.P. ("BV Select I")
Battery Partners Select Fund I, L.P. ("BP Select I")
Battery Investment Partners Select Fund I, L.P. ("BIP Select I")
Battery Partners Select Fund I GP, LLC ("BP Select I GP")
Neeraj Agrawal ("Agrawal")
Michael M. Brown ("Brown")
Morad Elhafed ("Elhafed")
Jesse Feldman ("Feldman")
Russel L. Fleischer ("Fleischer")
Roger H. Lee ("Lee")
Chelsea R. Stoner ("Stoner")
Dharmesh Thakker ("Thakker")
Scott R. Tobin ("Tobin")
The Reporting Persons expressly disclaim status as a "group" for purposes of this Schedule 13G.
(b)
Address or principal business office or, if none, residence:
Battery Ventures
One Marina Park Drive
Suite 1100
Boston, MA 02210
(c)
Citizenship:
BV11-A Delaware
BV11-B Delaware
BV-11A SF Delaware
BV-11B SF Delaware
BIP11 Delaware
BP11 Delaware
BP11SF Delaware
BV Select I Delaware
BP Select I Delaware
BIP Select I Delaware
BP Select I GP Delaware
Agrawal United States
Brown United States
Elhafed United States
Feldman United States
Fleischer United States
Lee United States
Stoner United States
Thakker United States
Tobin United States
(d)
Title of class of securities:
Class A Common Stock, $0.0001 par value per share
(e)
CUSIP No.:
10576N102
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
Row 9 of each Reporting Person's cover page to this Schedule 13G/A sets forth the aggregate number of shares of Class A common stock of the Issuer beneficially owned by such Reporting Person as of December 31, 2025 and is incorporated by reference
The Reporting Persons' beneficial ownership of the Issuer's Common Stock consists of (i) 714,569 shares of Class A common stock held directly by BV11-A; (ii) 188,805 shares of Class A common stock held directly by BV11-B; (iii) 742,400 shares of Class A common stock held directly by BV11-A SF; (iv) 160,974 shares of Class A common stock held directly by BV11-B SF; (v) 33,116 shares of Class A common stock held directly by BIP11; (vi) 1,395,750 shares of Class A common stock and 1,141,717 shares of Class A common stock issuable upon conversion of 1,141,717 shares of Class B common stock held directly by BV Select I; (vii) 29,250 shares of Class A common stock and 221,708 shares of Class A common stock issuable upon conversion of 221,708 shares of Class B common stock held directly by BIP Select I; (viii) 1,077,859 shares of Class A common stock held by Agrawal; (ix) 355,566 shares of Class A common stock held by Brown; (x) 97,411 shares of Class A common stock held by Elhafed; (xi) 432,080 shares of Class A common stock held by Feldman; (xii) 237,585 shares of Class A common stock held by Fleischer; (xiii) 22,031 shares of Class A common stock held by Lee; (xiv) 243,737 shares of Class A common stock held by Stoner; (xv) 217,772 shares of Class A common stock held by Thakker; and (xvi) 343,754 shares of Class A common stock held by Tobin.
BP11 is the general partner of each of BV11-A and BV11-B and the managing member of BIP11. BP11SF is the general partner of each BV11-A SF and BV11-B SF. BP Select I is the general partner of BV Select I. BP Select I GP is the general partner of BP Select I and BIP Select I. Agrawal, Brown, Feldman, Fleischer, Lee, Stoner, Thakker and Tobin (collectively the "BV Managing Members"), as managing members of each of BP11 and BP11SF, share voting and investment authority over the shares held by each of BV11-A, BV11-B, BIP11, BV11-A SF, and BV11-B SF. The BV Managing Members and Elhafed, as managing members of BP Select I GP, share voting and investment authority over the shares held by each of BV Select I and BIP Select I.
(b)
Percent of class:
Row 11 of each Reporting Person's cover page to this Schedule 13G/A sets forth the percentages of the shares of Class A common stock of the Issuer beneficially owned by such Reporting Person as of December 31, 2025 and is incorporated by reference. The percentage set forth in each row 11 is based upon the sum of (i) 102,267,368 shares of Class A common stock outstanding as of December 2, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the "SEC") on December 10, 2025, and (ii) 3,062,821 shares of Class B common stock that were converted into 3,062,821 shares of Class A common stock by certain Reporting Persons after December 2, 2025, in each case, adjusted in accordance with rules of the SEC, to give effect to the full conversion of Class B common stock beneficially owned by such Reporting Person.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Row 5 of each Reporting Person's cover page to this Schedule 13G/A sets forth the sole power to vote or to direct the vote of securities of the Issuer beneficially owned by such Reporting Person as of December 31, 2025 and is incorporated by reference.
(ii) Shared power to vote or to direct the vote:
Row 6 of each Reporting Person's cover page to this Schedule 13G/A sets forth the shared power to vote or to direct the vote of securities of the Issuer beneficially owned by such Reporting Person as of December 31, 2025 and is incorporated by reference
(iii) Sole power to dispose or to direct the disposition of:
Row 7 of each Reporting Person's cover page to this Schedule 13G/A sets forth the sole power to dispose or to direct the disposition of securities of the Issuer beneficially owned by such Reporting Person as of December 31, 2025 and is incorporated by reference.
(iv) Shared power to dispose or to direct the disposition of:
Row 8 of each Reporting Person's cover page to this Schedule 13G/A sets forth the shared power to dispose or to direct the disposition of securities of the Issuer beneficially owned by such Reporting Person as of December 31, 2025 and is incorporated by reference.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
Not Applicable
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Battery Ventures XI-A, L.P.
Signature:
/s/ Christopher Schiavo
Name/Title:
Christopher Schiavo, Attorney-in-Fact
Date:
02/17/2026
Battery Ventures XI-B, L.P.
Signature:
/s/ Christopher Schiavo
Name/Title:
Christopher Schiavo, Attorney-in-Fact
Date:
02/17/2026
Battery Ventures XI-A Side Fund, L.P.
Signature:
/s/ Christopher Schiavo
Name/Title:
Christopher Schiavo, Attorney-in-Fact
Date:
02/17/2026
Battery Ventures XI-B Side Fund, L.P.
Signature:
/s/ Christopher Schiavo
Name/Title:
Christopher Schiavo, Attorney-in-Fact
Date:
02/17/2026
Battery Investment Partners XI, LLC
Signature:
/s/ Christopher Schiavo
Name/Title:
Christopher Schiavo, Attorney-in-Fact
Date:
02/17/2026
Battery Partners XI, LLC
Signature:
/s/ Christopher Schiavo
Name/Title:
Christopher Schiavo, Attorney-in-Fact
Date:
02/17/2026
Battery Partners XI Side Fund, LLC
Signature:
/s/ Christopher Schiavo
Name/Title:
Christopher Schiavo, Attorney-in-Fact
Date:
02/17/2026
Battery Ventures Select Fund I, L.P.
Signature:
/s/ Christopher Schiavo
Name/Title:
Christopher Schiavo, Attorney-in-Fact
Date:
02/17/2026
Battery Partners Select Fund I, L.P.
Signature:
/s/ Christopher Schiavo
Name/Title:
Christopher Schiavo, Attorney-in-Fact
Date:
02/17/2026
Battery Investment Partners Select Fund I, L.P.
Signature:
/s/ Christopher Schiavo
Name/Title:
Christopher Schiavo, Attorney-in-Fact
Date:
02/17/2026
Battery Partners Select Fund I GP, LLC
Signature:
/s/ Christopher Schiavo
Name/Title:
Christopher Schiavo, Attorney-in-Fact
Date:
02/17/2026
Neeraj Agrawal
Signature:
/s/ Christopher Schiavo
Name/Title:
Christopher Schiavo, Attorney-in-Fact
Date:
02/17/2026
Michael M. Brown
Signature:
/s/ Christopher Schiavo
Name/Title:
Christopher Schiavo, Attorney-in-Fact
Date:
02/17/2026
Morad Elhafed
Signature:
/s/ Christopher Schiavo
Name/Title:
Christopher Schiavo, Attorney-in-Fact
Date:
02/17/2026
Jesse Feldman
Signature:
/s/ Christopher Schiavo
Name/Title:
Christopher Schiavo, Attorney-in-Fact
Date:
02/17/2026
Russell L. Fleischer
Signature:
/s/ Christopher Schiavo
Name/Title:
Christopher Schiavo, Attorney-in-Fact
Date:
02/17/2026
Roger H. Lee
Signature:
/s/ Christopher Schiavo
Name/Title:
Christopher Schiavo, Attorney-in-Fact
Date:
02/17/2026
Chelsea R. Stoner
Signature:
/s/ Christopher Schiavo
Name/Title:
Christopher Schiavo, Attorney-in-Fact
Date:
02/17/2026
Dharmesh Thakker
Signature:
/s/ Christopher Schiavo
Name/Title:
Christopher Schiavo, Attorney-in-Fact
Date:
02/17/2026
Scott R. Tobin
Signature:
/s/ Christopher Schiavo
Name/Title:
Christopher Schiavo, Attorney-in-Fact
Date:
02/17/2026
Exhibit Information
Exhibit 99.1 Joint Filing Agreement dated February 14, 2025 (incorporated by reference to Exhibit 99.1 to the Reporting Persons' Schedule 13G filed with the SEC on February 14, 2025).
What does the Braze (BRZE) Schedule 13G/A filing report?
The Schedule 13G/A reports updated beneficial ownership of Braze Class A common stock by Battery Ventures–affiliated funds and individuals as of December 31, 2025. It lists share counts, voting and dispositive power, and percentage ownership for each reporting person.
How much of Braze (BRZE) does Neeraj Agrawal beneficially own?
Neeraj Agrawal is reported to beneficially own 5,706,148 shares of Braze Class A common stock, representing 5.3% of the class. This includes shares over which he has both sole and shared voting and dispositive power as disclosed in the ownership tables.
Which Battery Ventures funds hold Braze (BRZE) Class A shares?
Battery Ventures XI-A, XI-B, XI-A Side Fund, XI-B Side Fund, Investment Partners XI, Select Fund I, Investment Partners Select Fund I and related general partner entities hold Braze Class A shares. Each fund’s aggregate share count and percentage ownership are specified in the cover-page tables.
How are the Braze (BRZE) ownership percentages in the 13G/A calculated?
Ownership percentages are based on 102,267,368 Braze Class A shares outstanding as of December 2, 2025, plus 3,062,821 Class B shares converted into Class A. Each reporting person’s percentage reflects this adjusted share base and their fully converted Class B holdings.
Do the Battery Ventures reporting persons claim to be a group in Braze (BRZE)?
No. The filing states that the Battery Ventures–affiliated entities and individuals, collectively called the “Reporting Persons,” expressly disclaim status as a “group” for beneficial ownership purposes, even though they report their various stakes together in the same Schedule 13G/A.
What roles do the Battery general partner entities play in Braze (BRZE) holdings?
Entities such as Battery Partners XI, Battery Partners XI Side Fund, and Battery Partners Select Fund I GP act as general partners or managing members for the investment funds. They share voting and investment authority over Braze shares held by the underlying limited partnerships they manage.
What share classes of Braze (BRZE) are involved in this 13G/A?
The filing focuses on Braze Class A common stock, $0.0001 par value per share, but also notes Class B common stock that is convertible into Class A. Several Battery funds hold Class B shares, and the percentages assume full conversion to Class A stock.
