Summit Partners, a global growth investor, has led a $75 million investment in CRM marketing specialist Optimove.
The funds will be used to support the company’s sustained strategic recruiting and M&A efforts, as well as the expansion of its CRM marketing platform.
Summit Partners’ Head of Europe, Han Sikkens, and Managing Director Steffan Peyer have been appointed to the company’s Board of Directors.
Digital consumption growth
Pini Yakuel, the founder and CEO of Optimove, said: “In the last 18 months, digital consumption grew like never before.
“As a result, the cost of acquiring new customers has skyrocketed, while customer loyalty took a deep dive. Now, more than ever, brands understand the urgency to invest in existing customers to drive growth.
“We built Optimove to address the challenges operators face when attempting to deliver personalisation at scale. Our solutions are designed to offer marketing teams direct access to their player data to build, test and optimise their CRM campaigns.
“Our AI engine helps ensure that every player receives the marketing treatment that increases their lifetime value, through the optimal channel, at any given time.”
Every year, the Optimove CRM Marketing platform distributes over 23 billion optimised communications to over 3 billion clients via email, mobile, ad networks, and other channels.
It integrates with prominent gaming platforms such as Playtech, Pragmatic Solutions, and SBTech to service more than 500 B2C gaming brands, including Entain, Gamesys, Kindred, Penn National, and Sisal.
Peyer added: “The growth in e-commerce over the past decade has led to ever-increasing online competition, forcing brands to evolve their marketing strategies to deliver seamless, personalised omnichannel experiences that resonate and drive loyalty with consumers.
“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.”