Optimove announced today a $75 million investment led by global growth investor Summit Partners. The financing will support continued investment in strategic hiring and M&A, expansion of the company’s Customer Relationship Management (CRM) Marketing platform, and further growth for the company as a whole, according to company officials.
Optimove’s new SaaS technology combines a Customer Data Platform (CDP) with a Multichannel Marketing Hub (MMH), designed to empower brands to deliver personalized marketing campaigns to connect and engage with existing customers. The company’s CRM Journey mapping also works to leverage AI to autonomously surface valuable customer engagement opportunities, orchestrate self-optimizing customer journeys and accurately measure the incremental impact of all marketing interactions.
Optimove officials said that today, the company’s CRM Marketing platform sends more than 23 billion optimized messages through email, mobile, ad platforms and other channels, to over 3 billion customers every year.
Optimove currently serves more than 500 brands — including BetMGM, Papa John’s, Staples, Varsity Tutors and others across ecommerce, gaming, retail, QSR, telecommunications and financial services — and integrates with technology platforms such as Snowflake, Shopify, Salesforce Commerce Cloud, alongside leading execution channels, including Facebook, Google Ads, Criteo and Attentive.
“In the last 18 months, digital consumption grew like never before,” Optimove Founder and CEO Pini Yakuel said in a statement. “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.”
Yakuel added teams built Optimove to address the challenges brands face when attempting to deliver personalization at scale via solutions designed to offer marketing teams “direct access to their customer data to build, test and optimize their CRM campaigns.”
Over the last 12 months, Optimove generated revenue growth of more than 40%, according to company officials. The company currently has 280 employees with plans to double its global headcount over the next 24 months, hiring predominantly for its technology, customer and commercial organizations.