Optimove to double global headcount following $75m funding round
CRM specialist vows to use the additional capital to hire staff, explore M&A and develop product
Data-led marketing firm Optimove has secured a $75m raise in its latest funding round.
The raise was led by Summit Partners, with the fresh capital injection to be used across hiring, M&A and product development.
In fact, Optimove said it planned to double its global workforce within the next two years from its current 280 employees.
In addition, Summit Partners MD Steffan Peyer and head of Europe Han Sikkens have both been appointed to Optimove’s board of directors.
The Tel Aviv-headquartered firm, which also boasts offices in New York and London, works with several leading igaming operators including Entain, Gamesys and Kindred Group.
The group has posted revenue growth of more than 40% over the last 12 months.
Pini Yakuel, Optimove CEO, said: “In the last 18 months, digital consumption grew like never before. As a result, the cost of acquiring new customers has skyrocketed, while customer loyalty took a deep dive.
“Now, more than ever, brands understand the urgency to invest in existing customers to drive growth.”
Peyer commented: “Optimove has grown into a truly global business. With strong technology, a strategic executive team and the addition of growth capital, we believe Optimove is poised to build on its market leadership position.”
Optimove is a CRM hub powered by a combination of customer modelling, predictive micro-segmentation and campaign automation technologies.