CRM Specialist Optimove Secures $75 million

Optimove, specializing in customer relationship management marketing, announced yesterday that it has secured a $75 million growth investment led by Summit Partners.

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"It's easier when you are creating three or five customer journeys a month, but when you really scale and want to do thousands, there is not an easy way to do that," said CEO Pini Yakuel. 

"We do that with AI orchestrators that govern all of the messages. Now you can define the message and the marketer will have all of the data and be able to get feedback and analysis of what the customer segment looks like," added Pini.

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Prior to this investment, Optimove was bootstrapped for the first four years until raising $20 million. Yakuel said the company hasn't used the money yet — it has been profitable so far. He considers the round to be Summit Partners, which is buying out the company's earlier investors, as making a bigger commitment to the company.

​In the past year, the company saw an increase of 40% annual recurring revenue, and it sends more than 23 billion optimized messages via email, mobile, ad platforms and other channels, to over 3 billion customers annually. Next up for the company, Yakuel expects the next milestone to be an initial public offering in three years.