$75m for Targeting Firm Optimove

Customer targeting specialist Optimove has raised $75m in a new round of funding, which it will use to double its global headcount over the next 24 months; for mergers and acquisitions; and for expansion of its CRM platform.

Optimove's technology combines a customer data platform with a 'multichannel marketing hub' designed to enable brands to deliver personalized marketing campaigns for existing customers. The firm says the platform currently sends more than 23 billion optimized messages through e-mail, mobile, ad platforms and other channels, to more than three billion customers every year.

New funding has been led by Summit Partners, whose Head of Europe, Han Sikkens, and MD Steffan Peyer join Optimove's Board of Directors. Peyer comments: '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. With strong technology, a strategic executive team, and the addition of growth capital, we believe Optimove is poised to build on its market leadership position'.

The firm, which is headquartered in Tel Aviv with additional offices in New York and London and is led by founder and CEO Pini Yakuel (pictured), is online at www.optimove.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.