‘Significant capital infusion’ as software house Pipedrive closes $50m investment round

Sales pipeline and CRM software company Pipedrive Inc. has secured $50m (c.£38m) in Series C funding.

New investor Insight Venture Partners led the round alongside existing backer Bessemer Venture Partners.

Other participants included Rembrandt Venture Partners and Atomico, both of which have previously invested in Pipedrive.

The New York-headquartered company, which expanded into London earlier this year, will use the eight-figure boost to ramp up research and development, accelerate customer growth globally and explore strategic acquisitions.

Pipedrive was founded in 2010. Today, the company has 75,000 customers in 170 countries and offices across the US, Estonia, UK and Portugal.

Timo Rein, co-founder and CEO of Pipedrive, said: “This significant capital infusion, including a new partnership with Insight and further investment from Bessemer, is a major milestone in the Pipedrive story.

“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.”

Teddie Wardi, principal of Insight Venture Partners, commented: “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.

“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.”

Bessemer partner Alex Ferrara said: “An unflinching focus on customer success and optimising usability means Pipedrive is loved by sales teams worldwide.

“We recognise Pipedrive is in a truly exciting position in the market, with vast potential to scale further, and add to its product lines and proposition.”