Optimove, a Tel Aviv, Israel–based customer marketing cloud, raised $20m in growth funding.
The round was led by Israel Growth Partners, a private equity investment firm that focuses on later stage investments. As part of the financing, Israel Growth Partners’ Moshe Lichtman will join Optimove’s board of directors.
The company intends to use the funds to grow its R&D and grow sales and marketing organization, and to hire in the US market, especially for the company’s recently opened New York office.
Led by Pini Yakuel, founder and CEO, Optimove provides a cloud used by over 200 customer-centric brands including 1-800-flowers.com, Zynga, eBags and others, to drive their entire customer marketing operation. Optimove combines customer modeling, predictive micro-segmentation and campaign automation technologies to enable marketers to deliver personalized customer marketing campaigns across multiple channels, maximize customer spend, engagement, retention and lifetime value. The company’s Customer Marketing Cloud currently sends more than 4 billion targeted, personalized messages to over 900 million customers every year through email, Facebook, Google Ads, SMS, push notifications, and other channels.
It currently employs more than 100 employees in offices in New York, London and Tel Aviv.