Optimove raises $75m, led by Summit Partners

By Peter Lynch

Optimove has raised a $75m growth investment led by Summit Partners.

The customer relationship management (CRM) software provider’s customers include Entain, Sisal, Penn National Gaming, and Gamesys. It says the capital will go towards supporting strategic mergers and acquisitions, and the expansion of its CRM marketing hub.

Optimove will also put the capital towards hiring, with the company aiming to double its headcount by the end of next year.

“Following strong business momentum and in the wake of recent global eCommerce growth, Optimove's most significant funding to date will help accelerate the company's momentum through M&A, strategic hiring, and expansion of its CRM Marketing hub,” a statement from Optimove read.

The group has offices in Tel Aviv, London and New York, with its other customers in the gaming industry including Rush Street, Fortuna, Lottoland, and the Pennsylvania Lottery. In January 2021, operator SKS365 partnered with the company to tap into its CRM Marketing Hub, leveraging its solution to optimise CRM experiences for registered players, such as those of flagship brand Planetwin365.

“This new capital positions us to accelerate our growth further, expand our global footprint, and cement our position as category leaders,” said Optimove Founder & CEO ​​Pini Yakuel.

The group has also appointed Summit Partners’ Head of Europe, Han Sikkens, and Managing Director Steffan Peyer to its board of directors.

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