Customer marketing cloud co Optimove raises $20m

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The funds were raised from Israel Growth Partners (IGP) whose partner Moshe Lichtman joins Optimove's board of directors.

Israeli customer marketing cloud developer Optimove announced today that it has closed a $20 million financing round from Israel Growth Partners (IGP). The round marks the first funding for the nearly eight-year-old company, after three straight years of 100% year-over-year growth. Optimove has bootstrapped its way to its present status and has never previously taken venture capital funding.

Used by more than 200 companies, including 1-800-flowers.com, Zynga, eBags and others, the companys Customer Marketing Cloud currently sends more than 4 billion targeted, personalized messages to over 900 million customers every year through email, Facebook, Google Ads, SMS, push notifications, and other channels. Optimove has more than 100 employees in offices in Tel Aviv, New York, and London

The funds raised will be used to further invest and grow Optimoves R&D and maintain its position at the forefront of innovation. Optimove will also invest in growing its sales and marketing organization, and to hire aggressively in the US market, especially for the companys recently opened New York office.

Optimove CEO and founder Pini Yakuel said, Our mission is to empower customer-centric brands to conduct smarter, emotionally intelligent marketing campaigns. We were in a fortunate position where we never needed to raise venture capital money in order to grow, but we decided to take on a growth round at this point in the companys evolution because we are already stable and profitable and we are now ready to accelerate our growth. Im excited to work with Moshe Lichtman and Haim Shani, who have such tremendous experience in the tech field. I have no doubt they will help in making Optimove the fastest growing company and an innovation leader in its space.

As part of the financing, Israel Growth Partners Moshe Lichtman will join Optimoves board of directors. Optimove is incredibly well positioned to succeed as the leading customer marketing platform, said Lichtman. Not only have they built an extremely sophisticated technology platform that gets rave reviews from all of its customers, but Pini and his team have been able to turn Optimove into a well-oiled machine that is poised for extreme growth and category leadership. We are proud to help them take that next step.

Optimoves Customer Marketing Cloud provides customer-centric brands with a data-driven marketing platform that increases retention, engagement and customer spend by delivering personalized campaigns across multiple channels. The Optimove Customer Marketing Cloud offers proprietary predictive customer modelling, real-time hypertargeting, multi-channel campaign orchestration and self-optimizing personalization to help clients maximize the value of each and every customer.

Published by Globes [online], Israel business news - www.globes-online.com - on September 14, 2016

Copyright of Globes Publisher Itonut (1983) Ltd. 2016

 
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