Growth Funds for Targeting Specialist Optimove

Customer targeting specialist Optimove has raised $20m in growth funding, which it will use to expand the business and its sales and marketing teams in the US.

With bases in New York, London and Tel Aviv, Optimove has developed a data-driven customer marketing cloud for use in personalized cross-device campaigns, making use of software for customer modelling, predictive micro-segmentation and campaign automation. It currently sends more than four billion targeted, personalized messages to over 900 million customers every year through e-mail, Facebook, Google Ads, SMS, push notifications and other channels.

Optimove has never taken venture capital funding before, and this first round comes from private equity investment firm Israel Growth Partners. CEO and founder Pini Yakuel (pictured) comments: 'We were in a fortunate position where we never needed to raise venture capital money in order to grow, but we decided to take on a growth round at this point in the company's evolution because we are already stable and profitable and we are now ready to accelerate our growth'.

Web site: www.optimove.com .