Pipedrive secures $2.4m in funding

Previous backer TMT's investment comes in the form of a $450,000 unsecured convertible promissory note. Terms and conditions of TMT's investment include a 2% annual interest rate and a maturity date of September 2015.

Storm and Rembrandt led the round, which also saw several angel investors back the company – namely Transferwise co-founder Taavet Hinrikus; Twilio engineering vice president Ott Kaukver; Fortumo and Mobi Solutions co-founder Rain Rannu; and Fresco Capital Advisers managing director Tytus Michalski.

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

Company
Founded in 2010, Pipedrive is based in Tallinn with a US headquarters in Palo Alto. The company currently employs 21 staff.

Pipedrive provides sales management software-as-a-service solutions to SMEs, designed to simplify and improve customer relationship management software. Pipedrive's software, Sales Pipeline, allows businesses to track sales, import and export data, integrate the software with Google Apps and track emails by linking them to relevant customers or deals.

People
Timo Rein is the CEO and co-founder of Pipedrive. He founded the company alongside four others: head of customer experience Urmas Purde; head of customer support Martin Henk; head of engineering Martin Tajur; and head of partnerships Ragnar Sass.

Jason Lemkin of Storm has taken up an advisory position with the company, according to Pipedrive. Alexander Selegenev is the executive director of TMT.

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