ActiveCampaign Bags $100 Million to Develop Next-Gen CXA

ActiveCampaign Bags $100 Million to Develop Next-Gen CXA

By: Retail CIO Outlook | Thursday, March 19, 2020

ActiveCampaign provides functionality far beyond all in one solution by allowing integration with a range of tools.

FREMONT, CA: ActiveCampaign, a customer experience automation company, pulled in $100 million in its Series B funding, led by Susquehanna Growth Equity. Silversmith Capital Partners, the sole investor in the company's $20 million Series A in 2016, also participated in the funding.

"ActiveCampaign and the CXA category have grown significantly, and our investment in the Series B reconfirms Silversmith's commitment to ActiveCampaign's future," said Todd Maclean, Co-Founder & Managing Partner of Silversmith Capital Partners.

The firm will use the funding to develop products, continue international expansion, and build its partner ecosystem. ActiveCampaign caters not only to large enterprises but also to small and mid-size businesses as well. The platform gives clients access to over 300 automation integrations, combining email marketing, marketing automation, CRM, and machine learning. It offers the highest standards for service, trust, and value to its customers who span over different countries and diverse industries.

"Customer Experience makes or breaks a business, and we're proud to be the critical piece that helps growing companies find success through CXA as they scale," said Jason VandeBoom, founder and CEO of ActiveCampaign. "This additional capital gives us the flexibility to continue to quickly adapt to our customers' needs in a very dynamic market while remaining focused on long-term investments in our core platform. I have built a relationship with SGE over the last three years and knew this was the right fit."

ActiveCampaign has annual revenues of over $90 million. It has 550 employees, having added 300 people in the last year. Also, the firm has opened offices in Indianapolis, Dublin, and Sydney, and expanded its presence in Brazil since 2016 and serves over 90,000 customers in 161 countries. It has also built an app marketplace with over 260 technology partners and a recipe library with over 250 pre-defined automations.

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