Optimove raises $75m investment led by Summit Partners
CRM marketing specialist Optimove has announced a $75 million investment led by global growth investor Summit Partners.
The financing will support continued investment in strategic hiring and M&A, as well as an expansion of its Customer Relationship Management (CRM) Marketing platform.
The company has also announced the addition of Summit Partners Head of Europe, Han Sikkens, and Managing Director Steffan Peyer to its Board of Directors.
“In the last 18 months, digital consumption grew like never before,” said Optimove Founder and CEO Pini Yakuel. “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.
“We built Optimove to address the challenges operators face when attempting to deliver personalisation at scale. Our solutions are designed to offer marketing teams direct access to their player data to build, test and optimise their CRM campaigns.
“Our AI engine helps ensure that every player receives the marketing treatment that increases their lifetime value, through the optimal channel, at any given time.”
Today, the Optimove CRM Marketing platform sends more than 23 billion optimised messages through email, mobile, ad platforms and other channels to over 3 billion customers every year.
It serves more than 500 B2C gaming brands including Entain, Gamesys, Kindred, Penn National and Sisal, while integrating with leading gaming platforms such as Playtech, Pragmatic Solutions and SBTech.
Peyer added: “The growth in e-commerce over the past decade has led to ever-increasing online competition, forcing brands to evolve their marketing strategies to deliver seamless, personalised omnichannel experiences that resonate and drive loyalty with consumers.
“From its roots in Israel’s thriving and dynamic technology ecosystem, Optimove has grown into a truly global business, serving well-known brands across more than 40 countries. With strong technology, a strategic executive team, and the addition of growth capital, we believe Optimove is poised to build on its market leadership position.”