Total amount raised
$89.8 Millions
Latest funding date
November, 2020
Location
Pipedrive has successfully raised significant funding over multiple rounds, culminating in its acquisition by Vista Equity Partners for $1.5 billion. The platform offers a robust CRM and pipeline management solution designed to streamline sales processes for businesses of all sizes.
Keep reading to explore the intricacies of Pipedrive's fundraising journey and the investors backing this innovative platform.
What Is Pipedrive?
Pipedrive, founded on June 21, 2010, in New York, New York, is a software company specializing in cloud-based sales management platforms and CRM solutions. The company was established by Martin Henk, Martin Tajur, Ragnar Sass, Timo Rein, and Urmas Purde.
With a focus on helping businesses streamline their sales processes, Pipedrive offers tools for tracking sales pipelines, managing deals, automating sales tasks, and more. The platform is designed to be user-friendly and effective for sales teams of all sizes.
Currently, Pipedrive employs between 501 and 1000 people, reflecting its growth and the increasing demand for its innovative CRM solutions.
How Much Funding Has Pipedrive Raised?
- Seed Round
- Amount Raised: $700K
- Date: July 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the CRM platform and bring it to market.
- Seed Round
- Amount Raised: $2.4M
- Date: September 2013
- Lead Investors: Rembrandt Venture Partners, Storm Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A
- Amount Raised: $9M
- Date: May 2015
- Lead Investors: Bessemer Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's features.
- Venture Round
- Amount Raised: €743K
- Date: November 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and market expansion.
- Series B
- Amount Raised: $17M
- Date: January 2017
- Lead Investors: Atomico
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the product and expand into new markets.
- Series C
- Amount Raised: $50M
- Date: June 2018
- Lead Investors: Bessemer Venture Partners, Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate global expansion and enhance product capabilities.
- Series C
- Amount Raised: $10M
- Date: October 2018
- Lead Investors: DTCP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen Pipedrive's position in the German market.
Total Amount Raised: $89.1M
Current Valuation: $1.5 billion
Key Investors
- DTCP
- Details: DTCP, or Deutsche Telekom Capital Partners, is a venture capital firm that invests in technology companies. They focus on growth-stage investments and strategic partnerships.
- Investment Focus Areas: Cloud and Network Infrastructure, 5G/IoT, Business IT, AI/Machine Learning, Cybersecurity
- Notable Investments: Pipedrive, Strato, AppNexus
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a leading venture capital firm with a history of backing innovative companies. They have a global presence and a diverse portfolio.
- Investment Focus Areas: SaaS, Cloud Computing, Healthcare, Financial Services, Consumer Internet
- Notable Investments: LinkedIn, Shopify, Pinterest
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm. They specialize in growth-stage investments in software and internet businesses.
- Investment Focus Areas: Software, Internet, Data, AI
- Notable Investments: Twitter, Wix, Qualtrics
- Atomico
- Details: Atomico is a European venture capital firm founded by Skype co-founder Niklas Zennström. They focus on disruptive technology companies.
- Investment Focus Areas: AI, Fintech, Consumer Internet, SaaS, Robotics
- Notable Investments: Klarna, Supercell, Lilium
- Rembrandt Venture Partners
- Details: Rembrandt Venture Partners is a venture capital firm that invests in early to growth-stage technology companies. They have a strong focus on enterprise software.
- Investment Focus Areas: Enterprise Software, SaaS, Cloud Computing, Security
- Notable Investments: Pipedrive, Act-On Software, Cloudflare
What's Next for Pipedrive?
Pipedrive's future looks promising with significant opportunities on the horizon. The company aims to strengthen its position in the German market, leveraging its recent $10 million funding from DTCP. This expansion could open doors to a broader customer base and increased revenue growth. Additionally, the growing demand for CRM solutions tailored for salespeople and automation of recurring tasks presents a substantial market opportunity.
Future fundraising seems likely, given the successful Series C round and strategic partnerships. However, Pipedrive will need to navigate challenges such as intense competition from other CRM providers and maintaining growth momentum. Adapting to rapid technological advancements and ensuring data security will also be crucial for sustained success.
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