The New York and Israel marketing cloud developer Optimove has raised $20 million from Israel Growth Partners (IGP), its first funding since founded in 2008, for keeping the customers you already have by targeting them with special messages.
Optimove enjoed three years in a row of 100-percent growth. IGP firm focuses on late-stage investments.
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Optimove 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 company will use the money to expand its business of using targeted marketing and data analysis to help mobile app creators retain customers and raise revenues. Optimove will also invest in growing its sales and marketing organization, and to hire aggressively in the US market, especially for the company’s recently opened New York office.
Used by more than 200 companies, including 1-800-flowers.com, Zynga, eBags and others, the company’s 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
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 company’s evolution because we are already stable and profitable and we are now ready to accelerate our growth. I’m 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 Optimove’s 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.”
