Pipedrive, a New York and Tallinn, Estonia-based provider of sales pipeline software and CRM, raised an additional $10m in Series C funding.
Deutsche Telekom Capital Partners made the investment which brought Pipedrive’s now completed Series C round to a total of $60m, including funding from new investor Insight Venture Partners, and existing investors Bessemer Venture Partners, Atomico, and Rembrandt Venture Partners.
The investment – which brought Pipedrive’s total venture capital funding to date to $90m – will further strengthen the company’s capability to expand within valuable markets such as Germany.
Founded in 2010 by Timo Rein, CEO, Pipedrive provides cloud-based sales pipeline software and CRM which delivers visibility and control over a sales pipeline and guides users to complete meaningful activities daily to push deals to close.
The solution is used by over 75,000 businesses across a broad range of sectors – from startup and SaaS companies, to more offline businesses such as manufacturing, engineering and professional services companies – in 170 countries.
The company recently launched a new flagship Platinum package with feature areas including workflow automation, team management, reporting, and security – all optimized for making sales teams more effective. Pipedrive Platinum equips companies to set goals and track performance. The solution is engineered to automate recurring and manual sales tasks to help salespeople focus on work that requires more creativity.
DTCP’s investment was made through their Venture/Growth Fund, which focuses on expansion stage Software-as-a-Service companies in the fields of Cloud and Network Infrastructure, 5G/IoT, Business IT, AI/Machine Learning, Cybersecurity and Marketing Technology.