ActiveCampaign Raises $100 Million Series B to Develop Next-Gen Customer Experience Automation (CXA)
Susquehanna Growth Equity Leads Investment to Help Company Define Emerging Category
ActiveCampaign, the leader in Customer Experience Automation (CXA), has raised $100 million in a Series B growth round led by Susquehanna Growth Equity (SGE). Silversmith Capital Partners, which was the sole investor in ActiveCampaign’s $20 million Series A in 2016, also participated in this round. ActiveCampaign will use the funding to develop the CXA category through product innovations that advance beyond legacy marketing automation, traditional CRM, and service technology, while continuing international expansion and building on its customer success team and partner ecosystem.
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Unlike competitors that focus on a narrow audience, ActiveCampaign makes its technology accessible to small, midsize, and enterprise businesses. The company offers the highest standards for service, trust, and value to its 90,000 customers who span 161 countries and diverse industries.
Since its 2016 funding round, Chicago-based ActiveCampaign has:
- Increased annual recurring revenue sixfold, to more than $90 million.
- Opened new offices in Indianapolis, Dublin, and Sydney, and significantly expanded its presence in Brazil.
- Expanded its partner ecosystem launching an app marketplace with over 260 technology partners and a recipe library with over 250 pre-defined automations.
- Grown from 65 to over 550 employees, adding almost 300 people in the last year alone.
ActiveCampaign leads the category with unparalleled automation, orchestration, personalization, and segmentation across channels, making customer connections scalable so that businesses can treat every customer like they are their most important customer. By connecting tools that are usually disparate, they are able to provide functionality far beyond all-in-one solutions by allowing integration with a range of tools.
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“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 3 years and knew this was the right fit.”
“ActiveCampaign is blazing a trail in the customer experience market while running a rapidly growing and sustainable business,” said Martin Angert, Partner at SGE who will join ActiveCampaign’s Board of Directors. “It already has the talent, experience, and international footprint to be the leader in Customer Experience Automation.”
“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.
Lazard served as exclusive financial advisor to ActiveCampaign.
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