Israeli startup Optimove announced a $ 75 million capital raising from the American growth fund Summit Partners

Optimove has announced a $ 75 million capital raising from the American growth fund Summit Partners. As part of the transaction and in addition to its investment, Summit Partners Fund will acquire the share of existing Optimov investors IGP Fund.
This is Optimov's second fundraiser established in 2009 and operated on a bootstrap (self-financing) model until it raised $ 20 million from the IGP Fund in 2016.
Optimov is developing a SaaS platform that enables marketers to use artificial intelligence-based tools to generate insights from their customers' data. The insights generated in the system form the basis for marketing actions and campaigns that are customized for each customer. The system allows marketers to manage thousands of different campaigns for hundreds of segments, and in a wide variety of communication channels, including: email, social networks, Google ads, text messages, push notifications in apps and other channels.
Pini Yekuel, CEO and founder of the company: “The idea is to invest in the database of existing customers to produce better relationships with customers. All the data is gathered in one place to produce a uniform view of the customer and division into different models helps to generate insights. " The company's customers come from a variety of fields but the main focus of the company is on brands from the retail field as well as gaming and sports betting companies.
Yekuel refuses to say at what value the investment was made, but says Optimov already has some future acquisitions it is considering, these days and says the recruitment will take the company he founded to its next level:
Optimov currently employs 280 people, most of them in Israel, and the rest in the company's offices in New York, London, Singapore, and Ukraine. The company works with more than 500 brands in diverse industries, including e-commerce, gaming, retail, fast food chains, communications, financial services and applications. The company's clients include Dollar Shave Club, Pennsylvania Lottery, Staples, Sweaty Betty and Varsity Tutors.