Software startup Pipedrive attracts €7.9 million investment ({{commentsTotal}})

Business
Business

Estonian company Pipedrive, which creates software for salesmen, has raised an additional 7.9 million euros (9 million dollars) in funding to help accelerate its growth.

Pipedrive was founded in Tallinn in 2010 and produces customer relations management (CRM) software.

The company has over 10,000 paying customers and 50,000 users in over a hundred countries and it makes millions of euros in sales revenue, although the exact data has not been disclosed. Last year, it paid over 200,000 euros in employment taxes alone to Estonia's state coffers. A third of the company’s customers come from Europe, a third from the US and a third from the rest of the world.

“This investment will help us hire more talented people to join our current family of employees. With their help, we will build more technology, market more broadly and deliver greater service to our more than 10,000 customers and many more small businesses and their salespeople around the world,” Pipedrive‘s CEO Steve Oriola, an American, said in a statement.

The funding round was led by American venture capital firm Bessemer Venture Partners. “Pipedrive’s growing base of more than 10,000 paying small business customers shows that the company’s simple, intuitive approach to helping them sell better by visualizing the sales pipeline works. We invested in Pipedrive because we believe that it has the potential to help more small businesses around the world close more business,” Alex Ferrara, a partner at Bessemer Venture Partners, said.

Previously, the former star basketball player, Shaquille O’Neal, has also invested in the company. Pipedrive has raised 11.8 million euros (13.4 million dollars) to date.

Editor: S. Tambur



{{c.alias}}
{{c.createdMoment}}
{{c.body}}
{{cc.alias}}
{{cc.createdMoment}}
+{{cc.replyToName}} {{cc.body}}
No comments yet.
Logged in as {{user.alias}}. Log out
Login failed

Register user/reset password

Name needs to be fewer than 32 characters long
Comment needs to be fewer than 600 characters long
{{comment.captcha.word.answer}}

news.err.ee

Opinion
Estonia’s way into the future isn’t a race

There is a lack of connection between the Estonian state, and the people who live here. While it expects a lot of the state, Estonian society doesn’t seem ready to contribute, writes Viktor Trasberg.

Lotman: Security academy would be crucial Estonian identity point in Narva

In an opinion piece published by Eesti Päevaleht, Tallinn University professor Mihhail Lotman found it important to overcome the mental barrier separating Ida-Viru County from the rest of Estonia.