- ActiveCampaign — a leader in Customer Experience Automation (CXA) — announced recently that it raised a $240 million Series C funding round
ActiveCampaign — a leader in Customer Experience Automation (CXA) — announced recently that it surpassed $165 million annual recurring revenue (ARR) and $240 million in a Series C funding round to further enhance its position in the CXA category and improve the customer experience of more companies around the globe. This funding round, which brought total financing raised to date to $360 million, was led by new investor Tiger Global and included new participation by Dragoneer as well as both existing investors, Susquehanna Growth Equity and Silversmith Capital Partners. The Series C funding was completed at a valuation in excess of $3 billion.
ActiveCampaign had accelerated customer and revenue growth despite uncertain and challenging global economic forces during the past year. There are 145,000 companies in 170 countries like koia, the Museum of Science and Industry, and whole30 that rely on CXA, highlighting that legacy email marketing, marketing automation, and CRM categories cannot create the personalized relationships required for today’s growing businesses.
Since the company’s 2020 $100 million Series B funding round, Chicago-based ActiveCampaign has surpassed $165 million in annual recurring revenue (ARR), less than a year after reaching the $100 million ARR milestone. And the shared plans to grow to over 1,000 employees by the end of 2021 after adding over 300 employees in 2020, creating a digital-first employment model while recommitting to international hubs in Chicago, Indianapolis, Dublin, and Sydney. Plus the company achieved record usage, including four billion weekly automated experiences, 150 million monthly automated campaigns, and two million daily predictions
The plans for this round include further investment in product development, ongoing global expansion, and acceleration of partner ecosystem initiatives – all with the goal of further strengthening ActiveCampaign’s commitment to provide its 145,000-strong customer base with a platform based on value, service, and trust.
KEY QUOTES:
“While ActiveCampaign is 18 years old, we started 2016 with 15 people and were completely bootstrapped before our Series A with Silversmith. To have reached over 850 team members and over 145,000 customers in five years is incredible. We have used our own platform to achieve this growth, proving CXA is game-changing. I’m excited to welcome Tiger Global and Dragoneer as investors, and want to thank SGE and Silversmith for their ongoing investment and support, as this funding will allow us to further lead the CXA category, critical for companies to reach their growth potential.”
— Jason VandeBoom, founder and CEO of ActiveCampaign
