CRM specialist Optimove raises $75 million
CRM and retention solutions provider Optimove, which boasts a number of Retail FX clients, has announced that it has raised a $75 million growth investment round, led by Summit Partners.
Optimove specializes in customer relationship management marketing, with a stated mission to help brands “delight” their customers and keep them coming back. The company has bases in Tel Aviv, New York and London.
The SaaS company was founded in 2012 by CEO Pini Yakuel to connect customers with brands and to apply artificial intelligence to customer data to orchestrate the right message to the right customer at the right time, and do it at scale. Mr. Yakuel stated on social media:
I’m incredibly proud to announce that Optimove raised $75 Million in growth capital from Summit Partners. 💪💹
I’d like to take this opportunity to thank Optimove’s employees, clients and partners. You are all integral parts of this significant achievement. Here’s to the next chapter in our joint journey!
This adds to our strong momentum – we grew 40% in the past 12 months, and were named “Leaders” by Forrester, as the entire ecommerce market exploded.
Building on our profitability and market leadership, the new capital positions us to accelerate our growth further, cementing our place as the undisputed CRM Marketing suite for brands looking to scale personalized customer journeys.
The journey continues! #crm #crmmarketing #relationshipmarketing #growth #fundingnews #investmentnews
The company’s own social media account added:
So, our founder and CEO, Pini Yakuel, just said it – and yes , words can’t express the pride and excitement we all share here today, following the announcement of a $75M investment we secured from Summit Partners.
We’re planning on using our resources for:
* Core-product innovation
* Auxiliary M&A
* Strategic staffing
* Cross-corporate hiring
* Top-shelf green tea & granola
Prior to this investment round, Optimove was bootstrapped for its first four years until raising a $20 million round from Israel Growth Partners in 2016. The current Summit Partners led round will be used in part to buy out the company’s earlier investors.