Israeli marketing firm CRM Optimove raises $ 75 million
Israeli Customer Relationship Management Marketing Company Optimove announced today the completion of a funding round of $ 75 million. The cycle was led by Summit Partners, of which Managing Director Steffan Peyer and Head of Europe Han Sikkens joined the Optimove Board of Directors.
The funding will be used to expand Optimove’s workforce, acquisitions and further development of its CRM marketing platform. The company also announced the addition of.
Optimove’s SaaS technology combines a Customer Data Platform (CDP) with a Multi-Channel Marketing Hub (MMH) to enable brands to personalize their campaigns and connect with existing customers. The AI elements of the software enhance this personalization to serve every customer with the optimal message and promotion, across websites, emails, Facebook, Google Ads, text messages, push notifications, and other channels.
Optimove Founder and CEO Pini Yakuel said, “Over the past 18 months, digital consumption has grown like never before. The cost of acquiring new customers has skyrocketed and brands now understand that they need to invest in their existing customers in order to drive growth. We are seeing more and more brands face a new challenge when trying to evolve their personalization. We created Optimove to solve this challenge and provide marketing teams with direct access to their customer data, the ability to build, test and optimize their CRM campaigns, and leverage our AI engine to ensure that every customer receives the most impactful message for its lifetime value, through the optimal channel, at any time. “
Founded in Tel Aviv in 2012, where the company’s headquarters are located, Optimove has offices in London and New York. The company’s revenue increased 35% from 2020, thanks to more than 500 brands using its platform. Customers cover e-commerce, gaming, retail, fast food, telecommunications, financial services and apps and include: BetMGM, Dollar Shave Club, Papa John’s, Pennsylvania Lottery, Staples, Sweaty Betty and Varsity Tutors .
Optimove’s CRM Marketing platform sends an average of over 23 billion optimized messages to over 3 billion customers each year. Optimove is integrated with major technology platforms, such as Snowflake, Shopify, Salesforce Commerce Cloud, Playtech, SBTech, as well as major fulfillment channels including Facebook, Google Ads, Criteo, Attentive, and Klaviyo
The company currently has 280 employees and intends to double its workforce over the next 24 months.
Posted by Globes, Israel business news – en.globes.co.il – September 27, 2021
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