ActiveCampaign Snares $240 Million In Series C Funding

Customer experience firm ActiveCampaign has raised $240 million in a Series C funding, bringing its total funding to date to $360 million and its valuation to over $3 billion. 

The round was led by new investor Tiger Global and included new participation by Dragoneer, and by existing investors Susquehanna Growth Equity and Silversmith Capital Partners. 

The funding follows a $100 million Series B round in 2020.  

The firm says it has surpassed $165 million in annual recurring revenue and now has 145,000 customers.  

In addition, it says it is processing billion weekly automated experiences, 150 million monthly automated campaigns, and two million daily predictions.

ActiveCampaign says it plans to further invest in product development, ongoing global expansion, and acceleration of partner ecosystem initiatives. 

In addition, the company expects to employ over 1,000 people by the end of 2021, having added over 300 in 2020 for its current total of 850.  

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“While ActiveCampaign is 18 years old, we started 2016 with 15 people and were completely bootstrapped before our Series A with Silversmith,” says Jason VandeBoom, founder and CEO of ActiveCampaign. 

The company argues that legacy email marketing and CRM systems cannot create the personalized relationships that brands need today. 

However, ActiveCampaign also proudly states that its email marketing software is highly rated on TrustRadius.

The company offers a customer experience automation platform. 

 

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