One is the newest European Unicorn, CRM software provider Pipedrive proudly writes in a mailing. But this is not quite true. Although the valuation after the latest round of financing is well over one billion US dollars - the US magazine TechCrunch reports a 1.5 billion dollar valuation with reference to insiders. But the company is only partially European. Founded in Estonia in 2010, it moved its headquarters to New York City years ago. In addition to Tallinn, the company has other locations in several American and European cities, including a data center in Frankfurt am Main.
Now the US iVC Vista iEquity Partners, which focuses on enterprise software, data and technology companies, has invested an unspecified amount in the scaleup. Since the investor will thus become the majority owner of the newly formed Unicorn, according to the company, a mega-deal in the mid-nine digit range can be expected. The existing investors Atomico, Deutsche Telekom Capital Partners, Bessemer Venture Partners, Insight Partners and Rembrandt Venture Partners, remain as minority investors in the company, Pipedrive says.
Pipedrive keeps clear focus on SMEs
Scaleup specializes in SMBs with its software that lets users manage leads and deals and track communication with customers and prospects using Artificial Intelligence and automation technology. Currently, the company has around 95,000 customers worldwide. “As the newest Unicorn, our partnership with Vista strengthens our focus on small and medium-sized companies, with the aim of supporting their digitization and growth even better,” comments CEO Raj Sabhlok. With the capital and the partnership with Vista, the company intends to push ahead with its expansion plans. This includes the expansion of the product portfolio, international expansion and the development of the company’s own customer base through targeted investments in go-to-market measures.