New unicorn Brevo raises $583M to challenge CRM giants [TechCrunch]
HubSpot, Inc. (HUBS)
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Source: TechCrunch
The startup raised €500 million in fresh equity funding ($583 million), which will fund its efforts to compete with larger players such as Hubspot and Salesforce not just in Europe, but also on their home turf in the U.S. Formerly known as Sendinblue , Brevo started out in 2012 as an email marketing solution for small businesses. The company expanded into mid-market and repositioned itself with a new name reflecting its broader product scope. That move paid off. Brevo now has more than 600,000 customers, ranging from small business owners to larger clients such as Carrefour, eBay, and H&M. The U.S. currently represents 15% of Brevo's revenue — one of its three largest markets along with France and Germany. That's not enough for CEO Armand Thiberge, who is planning to spend some of the funding on U.S. growth. “That's 50% of the global market, so it should be 50% of our revenue,” the French entrepreneur told TechCrunch. Revenue split concerns aside, the numbers are trending upwa
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