Insight, Bessemer lead $50m series-C for Pipedrive

While Insight joins as a new investor, Bessemer previously took part in a funding round for the company. Existing investors Rembrandt Venture Partners and Atomico also participated in the latest round. The series-C brings Pipedrive's total venture capital funding to date to $80m.

With the fresh capital, it plans to further expand its R&D, accelerate customer growth across its markets and explore strategic acquisitions.

Previous funding
Pipedrive pulled in $700,000 in seed funding in 2012, with $325,000 committed by TMT Investments. Huddle co-founder Andy McLoughlin and Christopher Muenchhoff also contributed to the round.

A year later, the company raised $2.4m from Storm Ventures, Rembrandt and TMT, as well as a number of angel investors.

Bessemer, Paua Ventures and existing investors injected $9m into the Estonian business software provider in 2015. Previous backers Rembrandt and AngelPad (which incubated Pipedrive in 2012) also took part in the round.

Company
Founded in 2010, Pipedrive is based in Tallinn with US headquarters in New York. The company recently opened offices in London and Lisbon. Pipedrive provides sales management software-as-a-service products to SMEs, designed to simplify and improve customer relationship management software.

People
Insight Venture Partners –  Teddie Wardi (principal).
Bessemer Venture Partners – Alex Ferrara (partner).
Pipedrive – Timo Rein (co-founder, CEO).

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• Topics
• Expansion
• CEE
• Technology
• Estonia
• Insight Venture Partners
• Bessemer Venture Partners