ActiveCampaign Raises $240 Million to Help Companies Grow with Customer Experience Automation

ActiveCampaign highlights 145,000 customer milestone, plans to leverage investment to further leadership as the CXA category becomes a critical business differentiator

ActiveCampaign, the leader in Customer Experience Automation (CXA), surpasses $165 million annual recurring revenue (ARR) and announces $240 million in a Series C financing round to further enhance its position in the CXA category and improve the customer experience of more companies around the globe. The round, which brought total financing raised to date to $360 million, was led by new investor Tiger Global and included new participation by Dragoneer, as well as both existing investors, Susquehanna Growth Equity and Silversmith Capital Partners. The Series C investments were completed at a valuation in excess of $3 billion.

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ActiveCampaign Raises $240 Million to Help Companies Grow with Customer Experience Automation

ActiveCampaign has accelerated customer and revenue growth, despite uncertain and challenging global economic forces during the past year. 145,000 companies in 170 countries, like koia, the Museum of Science and Industry, and whole30, rely on CXA, highlighting that legacy email marketing, marketing automation, and CRM categories cannot create the personalized relationships required of today’s growing businesses. 

Since its 2020 $100 million Series B funding round, Chicago-based ActiveCampaign has:

• Surpassed $165 million in annual recurring revenue (ARR), less than a year after reaching the $100 million ARR milestone
• Shared plans to grow to over 1,000 employees by the end of 2021 after adding over 300 employees in 2020, creating a digital-first employment model while recommitting to international hubs in Chicago, Indianapolis, Dublin, and Sydney
• Achieved record usage, including four billion weekly automated experiences, 150 million monthly automated campaigns, and two million daily predictions
• Announced new functionality including Pages and Web Personalization, plus major marketing, e-commerce, and sales automation product enhancements
• Released Predictive Recipes to help customers navigate its over 500 automation recipes, so companies can strike the right balance of automation and personal touch
• Expanded its partner ecosystem to over 850 technology partners, including Facebook, Microsoft, Zendesk, Salesforce, Google, and Shopify 
• Reinforced its industry-leading Customer Success Commitment resulting in higher customer satisfaction scores than any other solution in Marketing Automation, CRM, and E-Commerce Personalization on G2.com, and as the Top Rated Software for both Email Marketing and Marketing Automation on TrustRadius

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“While ActiveCampaign is 18 years old, we started 2016 with 15 people and were completely bootstrapped before our Series A with Silversmith. To have reached over 850 team members and over 145,000 customers in five years is incredible. We have used our own platform to achieve this growth, proving CXA is game-changing,” said Jason VandeBoom, founder and CEO of ActiveCampaign. “I’m excited to welcome Tiger Global and Dragoneer as investors, and want to thank SGE and Silversmith for their ongoing investment and support, as this funding will allow us to further lead the CXA category, critical for companies to reach their growth potential.”

Plans for this round include further investment in product development, ongoing global expansion, and acceleration of partner ecosystem initiatives – all with the goal of further strengthening ActiveCampaign’s commitment to provide its 145,000-strong customer base with a platform based on value, service, and trust.

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