Pipedrive, the active-selling CRM platform which was founded in Estonia, has closed a $17 million Series B round led by Atomico with participation from existing investors Bessemer Venture Partners and Rembrandt Venture Partners. Founded in 2010 by Estonian sales pros, Pipedrive today is based in Tallinn (Estonia) and New York (USA).
Pipedrive intends to use the investment to develop its salespeople-centric product technology, grow its partner ecosystem and scale customer growth around the world. This round brings Pipedrive’s total venture capital funding to over $30 million. Prior to this round, Pipedrive secured over $13 million in Series A and seed funding backed by Bessemer Venture Partners, Rembrandt Venture Partners, AngelPad, Paua Ventures, Monashees Capital, TMT Investments and angel investors.
Unlike many business software providers which focus only on developed markets, Pipedrive is truly a global offering with more than 30,000 small business customers in more than 140 countries. With its swiftly growing global footprint, Pipedrive has seen triple-digit year-over-year revenue growth since founding the business in 2010.
Timo Rein, CEO and cofounder of Pipedrive stated: “The partnership with Atomico is a huge victory for us as they are one of the few VC firms whose partners have hands-on experience building multi-billion, global and fast growing technology companies.”
In connection with this financing, Teddie Wardi from Atomico will join Pipedrive’s board and Niklas Zennström, CEO and founding partner of Atomico and co-founder of Skype, will join as board observer.
Teddie Wardi, Partner at Atomico, said: “Timo and his team at Pipedrive are building a company that is quickly becoming the CRM software of choice for small businesses, which will help millions of companies sell better in the future. While there are plenty of established CRM solutions for the enterprise market, CRM for SMBs is a largely untapped market and is worth over $10 billion. The majority of small businesses still use spreadsheets or even pen and paper to manage their sales, but Pipedrive simplifies the process and is built around the precise needs of a salesperson.”
Pipedrive gives salespeople maximum visibility into their sales pipeline and guides them to complete key activities daily that consistently push deals to close. Designed by sales pros for sales pros, Pipedrive offers one of the most comprehensive pipeline management solutions on the market. The company’s customer base consists mainly of small and medium businesses, including rapidly growing tech companies like Vimeo, Skyscanner and Teamwork.com as well as larger accounts with hundreds of users.
Pipedrive as a platform has integrations with 50+ online software solutions with more added each month. Pipedrive’s customers rely on its vibrant partner ecosystem with native integration to popular business tools such as Google Apps, Trello, Zapier, MailChimp, Yesware and PandaDoc with Pipedrive as the hub.