Sales CRM Pipedrive Announces Majority Investment from Vista Equity Partners
Vista to partner with Pipedrive and existing investors to accelerate growth and innovation in Pipedrive's sales and marketing solutions for small- and medium-sized businesses
NEW YORK, Nov. 12, 2020 /PRNewswire/ -- Pipedrive, the leading CRM platform for sales and marketing teams, today announced it has signed an agreement to receive a majority investment from Vista Equity Partners, a leading global investment firm focused on enterprise software, data and technology-enabled businesses.
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.
"Pipedrive's overwhelming acceptance by over 95,000 sales teams around the world has been exhilarating," said Raj Sabhlok, CEO at Pipedrive. "Reaching 'unicorn' status and partnering with Vista will enable us to accelerate our mission to support SMBs 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 industry accolades are well-deserved, but nothing is more telling about the strength of the company and its technology than the tremendous demand for its solutions and the loyalty of its customers," said Monti Saroya, Co-Head of the Vista Flagship Fund and Senior Managing Director at Vista Equity Partners. "We look forward to partnering with Pipedrive and its existing investors to provide disruptive, innovative and value-driving sales enablement solutions that help teams sell with certainty and efficiency."
Pipedrive CRM uses artificial intelligence and automation to help sales teams manage leads and deals efficiently, track customer and prospect communications and ultimately, drive more revenue for their business. Pipedrive's customer base is loyal and passionate about Pipedrive's products, which delivers unrivaled visibility and control over a sales pipeline and guides users to complete meaningful activities daily to push deals to close.
Pipedrive is rated as one of the most popular CRMs with its users with easy-to-use solutions that are specifically designed to help SMBs efficiently manage the sales process and grow their business. The company has been recognized as the "Best Overall CRM Solution in 2020" by MarTech Breakthrough and "Easiest to Use" CRM by Motley Fool. Most recently, and for the third year running, Pipedrive was included in the highly competitive Forbes Cloud 100 list.
Vista's investment and partnership will further fuel Pipedrive's expansion by helping the company grow and optimize its product portfolio, expand internationally and increase its customer base globally through continued investment in its Go-to-Market engine.
"As more and more small- and medium-sized businesses look to accelerate their digital adoption to grow and thrive, Pipedrive has proven itself an invaluable partner with solutions that drive revenue growth to its customers," said John Stalder, Managing Director at Vista Equity Partners. "We see a tremendous opportunity to work with the Pipedrive team and their partners to continue to grow the business and serve small- and medium-sized businesses globally."
Wells Fargo Securities, LLC served as financial advisor and Kirkland & Ellis LLP served as legal counsel to Vista. Latham Watkins LLP acted as legal counsel to Pipedrive.
About Pipedrive
Founded in 2010, Pipedrive is the first CRM platform developed from the salesperson's point of view. Today, Pipedrive is used by sales teams at more than 95,000 companies worldwide. Pipedrive is headquartered in New York and has offices across Europe and in the US. The company is backed by a majority holder Vista Equity Partners, and Bessemer Venture Partners, Insight Partners, Atomico, DTCP, and Rembrandt Venture Partners. Learn more at www.pipedrive.com.
About Vista Equity Partners
Vista is a leading global investment firm with more than $58 billion 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. Vista's investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners, and on Twitter, @Vista_Equity.
SOURCE Pipedrive
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