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International Internet Magazine. Baltic States news & analytics Thursday, 22.04.2021, 21:17

Estonia: Sales CRM Pipedrive announces majority investment from Vista Equity Partners

BC, Tallinn, 12.11.2020.Print version
Pipedrive, a customer relationship management (CRM) platform for sales and marketing teams of Estonian origin, on Thursday announced it has signed an agreement to receive a majority investment from Vista Equity Partners, a global investment firm focused on enterprise software, data and technology-enabled businesses, reported LETA/BNS.

As a result of the transaction, Pipedrive will become a unicorn, meaning its value will exceed one billion U.S. dollars.

While Pipedrive is not disclosing the size of the transaction, the company's co-founder Ragnar Sass said on social media that the value of the company rose to approximately 1.5 bn U.S. dollars with the transaction.

"Pipedrive's overwhelming acceptance by over 95,000 sales teams around the world has been exhilarating," Raj Sabhlok, CEO at Pipedrive, said.. "Reaching 'unicorn' status and partnering with Vista will enable us to accelerate our mission to support SMEs as they continue to digitize their businesses in order to grow. Our goal is to successfully deliver on the bold vision that Pipedrive set earlier this year -- to provide our users with powerful tools that cover the whole customer journey. This means developing a holistic set of products for various customer-facing teams -- from helping marketers find leads, supporting sales teams to close deals, to serving customers success professionals to upsell and nurture relationships."

Pipedrive’s existing investors Bessemer Venture Partners, Insight Partners, Atomico, DTCP, and Rembrandt Venture Partners, will continue as minority investors in the company and will partner with Vista and the Pipedrive team to accelerate the company’s growth trajectory.

Founded by Estonians Timo Rein, Urmas Purde, Ragnar Sass, Martin Henk and Martin Tajur in 2010, Pipedrive is a CRM platform developed from the salesperson's point of view. Today, Pipedrive's sales tools are used by more than 90,000 companies in more than 150 countries.

Pipedrive has offices in Tallinn, Tartu, London, Lisbon, Prague, Riga, Dublin, New York and St. Petersburg, Florida.

Vista is a global investment firm with more than 58 bn U.S. dollars in cumulative capital commitments. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, credit, public equity and permanent capital strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees.

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