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Optimove raises $75M in funding from Summit Partners to further expand its global footprint and cement its position as a category leader.
Optimove, a customer relationship management (CRM) marketing software provider, raised $75 million in funding from Summit Partners to build on its category leadership, Optimove announced on its blog.
The Series A funding for Optimove came in 2016, where it netted $20 million from Israel Growth Partners. With the close of this funding, the company has raised about $95 million to date. Optimove, founded in 2009, offers marketing teams access to their customer data and the ability to build, test and optimize their CRM campaigns, which it states as an essential element in the effort to scale CRM Marketing.
Optimove stated that it would use the proceeds from the funding towards accelerating its momentum achieved via a 40 percent growth over the past 12 months. It said that the proceeds from the funding would be used to further expand its global footprint and cement its position as a category leader. Welcoming Summit Partners into its team, he added,
Well, this financing will support our continued investment in strategic hiring and M&A (something we successfully ventured into once or twice before), expansion of our platform’s capabilities, and further acceleration of our overall rapid growth. We plan to continue hiring aggressively to help achieve these ambitious goals (we aim to double our headcount by the end of next year! And maybe load even more healthy snacks in the kitchen,Optimove added