CRM marketing company Optimove today has raised $75 million in a funding round led by Summit Partners.
The firm will use the funding for strategic hiring and M&A, expansion of its CRM marketing platform and further acceleration of its growth, it says.
Two Summit Partners executives will join the Optimove board: Han Sikkens, head of Europe and Peyer.
Optimove’s SaaS technology helps marketers use customer data and AI-based campaign orchestration to personalize campaigns via email, mobile and other channels. It combines a Customer Data Platform a Multichannel Marketing Hub.
“Our solutions are designed to offer marketing teams direct access to their customer data to build, test and optimize their CRM campaigns,” states Optimove founder and CEO Pini Yakuel.
The company’s AI engine helps firms ensure that “every customer receives the marketing treatment that increases their lifetime value, through the optimal channel, at any given time,” Yakuel adds.
Optimove is based in Tel Aviv and has offices in New York and London.
“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,” states Steffan Peyer, managing director at Summit Partners.