NEW YORK — Pipedrive, a developer of sales and Customer Relationship Management (CRM) software, has closed a $50 million Series C round led by new investor Insight Venture Partners and existing investor Bessemer Venture Partners, with additional participation from existing investors Rembrandt Venture Partners and Atomico.
Pipedrive plans to use the money to expand research and development, accelerate customer growth worldwide, and explore strategic acquisitions. This round brings Pipedrive’s total venture capital funding to date to $80 million.
Headquartered in New York and Tallinn, Estonia, Pipedrive has over 75,000 customers in 170 countries. With newly opened offices in London and Lisbon, Pipedrive has seen consecutive triple digit year-over-year revenue growth since it was founded in 2010. It has over 350 employees.
“This significant capital infusion, including a new partnership with Insight and further investment from Bessemer, is a major milestone in the Pipedrive story,” said Timo Rein, Co-Founder and CEO of Pipedrive. “By leveraging our investors’ expertise and spirit for building disruptive, global tech companies, our capacity to invest in new functionalities, conquer new markets, and help thousands more teams sell with certainty and efficiency has never been stronger.”
“Sales teams are more important to companies than ever in a hyper-competitive environment, highlighting the need for Pipedrive’s innovative and streamlined CRM software,” said Teddie Wardi, Principal of Insight Venture Partners. “We are thrilled to welcome the Pipedrive team into our portfolio, and help lead their growth and expansion in this next phase of their global journey.”