Led by Israel Growth Partners, customer retention platform provider Optimove has raised $20 million in its first funding round since its founding in 2009.
Optimove’s Customer Marketing Cloud provides customers that include 1-800-FLOWERS.com and eBags with the ability to send targeted, personalized messages through email, social media, SMS and other channels. The company plans to use the funding to continue to invest and grow its R&D as well as its sales and marketing organization. Optimove will also invest in hiring in the U.S. market, which includes a recently opened New York office.
“Our mission is to empower customer-centric brands to conduct smarter, emotionally intelligent marketing campaigns,” said Pini Yakuel, Founder and CEO of Optimove in a statement. “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 profitable and we are now ready to accelerate our growth.”
As part of the financing, Moshe Lichtman, Co-Founder of Israel Growth Partners, will join Optimove’s Board of Directors.