Optimove Raises $20 Million from Israel Growth Partners

Sep 15, 2016

Optimove, a customer marketing cloud, announced that it has raised $20 million in growth funding from Israel Growth Partners, a private equity investment firm that focuses on later stage investments. The round marks the first funding for the nearly eight-year-old company, after three straight years of 100% year-over-year growth, according to Optimove. 

The current growth round comes on the heels of stable expansion of Optimove and is aimed to propel the company into extreme growth. Optimove has bootstrapped the way to its present status, and has never taken VC funding. 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. Optimove currently employs more than 100 employees in offices in New York, London, and Tel Aviv. 

Israel Growth Partners (IGP) is a Private Equity investment firm founded by Moshe Lichtman and Haim Shani, two of Israel’s most experienced global tech leaders. IGP is backed by leading financial institutions including banks, insurance companies, and pension funds.

The funds raised will be used to further invest and grow Optimove’s R&D and maintain its position at the forefront of innovation. Optimove will also invest in growing its sales and marketing organization, and to hire aggressively in the US market, especially for the company’s recently opened New York office.