- New investment brings total Series C financing to $60 million
- Funding capitalizes on strong ARR, new product innovation and global reach
New York, NY -- 10 October 2018 – Pipedrive Inc. (www.pipedrive.com), a leading sales pipeline software and CRM of choice for over 75,000 businesses, today closed an additional $10 million Series C investment from new investor DTCP (Deutsche Telekom Capital Partners). DTCP will further strengthen Pipedrive’s capability to expand within valuable markets such as Germany.
The investment brings Pipedrive’s now completed Series C round to a total $60 million, including funding from new investor Insight Venture Partners, and existing investors Bessemer Venture Partners, Atomico, and Rembrandt Venture Partners. This round brings Pipedrive's total venture capital funding to date to $90 million.
Headquartered in New York and Tallinn, Pipedrive is a global innovation leader for sales CRM with customers in 170 countries. Pipedrive’s cloud-based software delivers unrivaled visibility and control over a sales pipeline and guides users to complete meaningful activities daily to push deals to close.
Pipedrive has seen strong year-on-year customer acquisition and revenue growth since it was founded in 2010. A relentless focus on user experience has yielded a passionate and loyal customer base across a broad range of sectors - from start-up and SaaS companies, to more traditionally ‘offline’ business types such as manufacturing, engineering and professional services.
"We value our new partnership with DTCP on many levels and we feel privileged to have them on board”, said Timo Rein, Co-Founder and CEO of Pipedrive. “This funding will be used to help every Sales Person who believes there is a better way to manage sales and who believes there is a product to help them deal with their pressure and with their need to stay focused. This belief has helped us build the Pipedrive product and grow the company, and it has inspired investors to further invest in our growth. Adding a strong Europe-based investor such as DTCP to our existing circle of investors also better reflects our global customer base and ambition”, he added.
Thomas Preuss, Partner at DTCP commented: “We have been impressed by Pipedrive's strong and highly efficient growth and believe in the company’s experienced management team. We look forward to supporting Pipedrive on its future growth trajectory through our global partner network and market access.”
DTCP’s investment was made through their Venture/Growth Fund, which focuses on expansion stage Software-as-a-Service companies in the fields of Cloud and Network Infrastructure, 5G/IoT, Business IT, AI/Machine Learning, Cybersecurity and Marketing Technology.
The most efficient sales CRM. Period.
Founded and co-designed by real salespeople to address the lack of a customizable and simple yet useful CRM for sales, Pipedrive uniquely combines easy activity-based usage for sales reps with valuable analytics for managers.
Pipedrive recently launched a new flagship Platinum package with feature areas including workflow automation, team management, reporting, and security - all optimized for making sales teams more effective. Pipedrive Platinum equips companies to set goals and track performance. The solution is engineered to automate recurring and manual sales tasks to help salespeople focus on work that requires more creativity.
Pipedrive continues to shake up the CRM market by putting salespeople in the driving seat. Those who implement Pipedrive commonly experience boosted sales and conversion rates, better team collaboration, data accuracy and sales productivity. Further business benefits include a more customized end customer experience, customer service and communication.
About Pipedrive
Pipedrive is the weapon of choice for salespeople in scaling companies – the sales CRM pipeline platform that makes selling simple. Pipedrive keeps things moving, stops tasks falling through the cracks and kills the tedium of admin. Pipedrive ensures that sales activities remain targeted, ambitious and realistic. Today, over 100,000 customers in 170 countries, and across 100+ industries leverage Pipedrives’ award-winning software to manage their sales process.
Founded by seasoned sales professionals, Pipedrive launched in 2010. It is one of the fastest growing cloud-driven SaaS companies worldwide, having raised $80m in funding from investors including DTCP, Atomico, Insight Venture Partners, Bessemer Venture Partners, Rembrandt Venture Partners and Paua Ventures.
About DTCP
DTCP is an investment management group with c. $1.6 billion assets under management and advisory from Deutsche Telekom and other institutional investors, and a portfolio of over 60 companies. The group is dedicated to providing venture and growth capital, special situation investments, and advisory services to the technology, media and telecommunication sectors. It operates and invests in Europe, the US and Israel. To learn more about DTCP, visit www.telekom-capital.com or @TelekomCapital on Twitter.
