Pipedrive Inc has closed a USD50 million Series C round led by new investor Insight Venture Partners and existing investor Bessemer Venture Partners, with additional participation from existing investors Rembrandt Venture Partners and Atomico.
Strongly positioned to capitalise on a surging global CRM market worth over USD40 billion (Gartner), Pipedrive plans to further expand its R&D, accelerate customer growth across its global footprint, and explore strategic acquisitions. This round brings Pipedrive’s total venture capital funding to date to USD80 million.
Headquartered in New York and Tallinn, Pipedrive is a truly global offering with 75,000 customers in 170 countries. With newly opened offices in London and Lisbon, Pipedrive has seen consecutive triple digit year-over-year revenue growth since it was founded in 2010. A focus on end user experience over eight years has yielded a passionate and loyal customer base.
“This significant capital infusion, including a new partnership with Insight and further investment from Bessemer, is a major milestone in the Pipedrive story,” says Timo Rein, Co-Founder and CEO of Pipedrive. “By leveraging our investors’ expertise and spirit for building disruptive, global tech companies, our capacity to invest in new functionalities, conquer new markets, and help thousands more teams sell with certainty and efficiency has never been stronger.”
“Sales teams are more important to companies than ever in a hyper-competitive environment, highlighting the need for Pipedrive’s innovative and streamlined CRM software,” says Teddie Wardi, Principal of Insight Venture Partners. “We are thrilled to welcome the Pipedrive team into our portfolio, and help lead their growth and expansion in this next phase of their global journey.”
“An unflinching focus on customer success and optimising usability means Pipedrive is loved by sales teams worldwide,” adds Alex Ferrara, Partner at Bessemer Venture Partners. “We recognise Pipedrive is in a truly exciting position in the market, with vast potential to scale further, and add to its product lines and proposition.”
