Optimove has reaffirmed its commitment to invest in strategic hiring and expand its Customer Relationship Management Marketing platform with a $75 million financial infusion. 

The Relationship marketing software provider announced the move in a press release last September 27.   

Optimove expands CRM capability

Summit Partners led a group of investors backing Optimove’s maneuver to improve its strategic hiring capability and add resources to its existing CRM platform. 

Optimove also promoted investors’ head of Europe, Han Sikkens, and managing director, Steffan Peyer, to its board of directors.

Optimove has been helping businesses improve their standing with their existing customers by utilizing its cutting-edged SaaS technology. 

The solution uses a mix of Customer Data Platform and Multichannel Marketing Hub, allowing brands to launch targeted marketing campaigns and build strong connections with their clients.  

Optimove felt the time is right for the company to expand its CRM platform after a recent report by Gartner’s Market Share Analysis: Customer Experience and Relationship Management Software Worldwide presented promising growth in the multichannel marketing market. 

According to the report, the multichannel marketing sector gained a 17 percent increase at a three-year CAGR. Industry observers also foresee it becoming a $10billion market by the end of 2021

The Tel Aviv, Israel-headquarter Optimove came into existence in 2012 as a start-up before it grew into a multinational company, becoming one of the most recognizable relationship marketing software providers in the world.

The company, which also maintains offices in New York and London, consistently reports a healthy profit margin every year since its inception. A recent company report indicated a revenue growth of 40 percent over the last 12 months. 

Optimove has teamed up with more than 500 brands, including some of the biggest entities in the casino and entertainment sector. 

The company had launched marketing campaigns with Entain, Gamesys, Kindred, Penn National, Sisal, and others. It has also partnered with leading gaming aggregation platforms, such as Playtech, Pragmatic Solutions, and SBTech.

Optimove also worked closely with execution channels like Facebook, Google Ads, Dynamic Yield, and Attentive.

Quotes from the Press Release

Pini Yakuel, Optimove founder and CEO, shared more insights into their CRM expansion: 

“In the last 18 months, digital consumption grew like never before. As a result, the cost of acquiring new customers has skyrocketed, while customer loyalty took a deep dive. Now, more than ever, brands understand the urgency to invest in existing customers to drive growth.

“We built Optimove to address the challenges operators face when attempting to deliver personalization at scale. Our solutions are designed to offer marketing teams direct access to their player data to build, test, and optimize their CRM campaigns. 

“Our AI engine helps ensure that every player receives the marketing treatment that increases their lifetime value, through the optimal channel, at any given time.”

Steffan Peyer, managing director at Summit Partners, added: “The growth in e-commerce over the past decade has led to ever-increasing online competition, forcing brands to evolve their marketing strategies to deliver seamless, personalized omnichannel experiences that resonate and drive loyalty with consumers,” said Steffan Peyer, managing director at Summit Partners. 

“From its roots in Israel’s thriving and dynamic technology ecosystem, Optimove has grown into a truly global business, serving well-known brands across more than 40 countries. With strong technology, a strategic executive team, and the addition of growth capital, we believe Optimove is poised to build on its market leadership position.”