French martech Sendinblue has secured around EUR136.5 million, in a round led by Bridgepoint Development Capital and BPI Big Cap, with existing financier Partech staying as an equity partner.
Established in 2012 by Armand Thiberge, Sendinblue is an all-in-one marketing and sales option for SMBs, covering channels such as email, SMS, marketing automation, sales management and live chat. Positioned as a leader in digital marketing, the start-up boasts a solid record, attaining 60% development year over year and an approx. EUR46.9 million ($55 million) turnover.
The current financial context has confirmed the requirement for this kind of service, asmany local and conventional companies speed up on their digitalisation efforts. Sendinblue achieved over 50% development in between March and June 2020 (during the lockdown duration) and now has 180,000 clients across over 160 countries.
Focused on email marketing, the scale-up has adjusted to an increasing need from services for an online acquisition and loyalty tool. For example, clients can begin by sending out newsletters, then go further with complex marketing automation situations or a chat tool that integrates into their website. These tools are accessible and do not require any technical understanding, implying Sendinblue attract a large range of companies (from restaurants to architectural companies, e-commerce websites or even making groups). Over 50% of their team is presently devoted to these innovations.
With 70% of its income produced abroad, Sendinblue plans to accelerate its worldwide development. This new fundraising will enable it to increase its external growth activities to enhance its value proposition in addition to acquire foothold on brand-new markets. Sendinblue has just opened its first office in Toronto, reinforcing its existence in its number one market: North America. The goal by 2025 is to accomplish around EUR188 million ($220 million) turnover.
Bruno Cremel, General Partner at Partech, commented: “SendInBlue is quick ending up being the European-leading digital-marketing platform for SMBs, and Partech is very delighted to continue the journey with the business”.
This vision was especially interesting Olivier Nemsguern, Partner at Bridgepoint: “Sendinblue is well placed in a market experiencing high development. An increasing variety of SMBs are relying on digital, we saw this during lockdown. In addition, the company’s performance history and efficiency are remarkable. After an extensive financial audit over numerous weeks, we determined Sendinblue as the greatest entertainer in this market.“
Louis Mollis, Partner at BPI, shared: “We purchase high-potential, ingenious companies, so it was apparent to us that we should support one of our French jewels, specifically one that does so well globally! We’re proud to stand with them to develop a European giant.“
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