Updated: Jun 29, 2022
We just recently featured Leadfeeder here, a Finnish company that specializes in using data and intelligence to identify anonymous website visitors and create detailed visitor profiles (see the article here), and now we're coming up with news again as developments are practically overflowing.
The startup from Finland is joining forces with Echobot from Germany and they are even getting $190 million from a prominent investor to fund their next steps. This shows us all that Big Data analytics and sales intelligence are huge.
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The funding comes from Great Hill Partners, a Boston-based private equity firm that is currently investing in high-growth companies with its $4.65 billion fund. This includes also Totango, which we will also report on here shortly. But this much in advance: it's a provider of customer success software to take digital engagement to a new level with hyper-personalized communications for every user.
Yes, one more thing: Great Hill Partners will provide an additional $50 million to this venture for complementary acquisitions. The anticipation for this technology segment is obviously high.
The newly formed group will be led by Bastian Karweg, CEO of Echobot, and Pekka Koskinen, CEO of Leadfeeder. It is headquartered in Germany and supported by a globally integrated team of 250 professionals in six offices in Europe and the U.S., serving more than 8,500 customer accounts. Derek Schoettle, Chris Gaffney and Greg Stewart of Great Hill Partners will join the board of directors.
The two companies will continue to operate as separate brands in advance, gradually merging their operations and technology. It just takes some time to integrate software and sales. They may also adopt a new name and branding by next year.
We didn't find anything regarding valuation, but we do know that Echobot is profitable and has been for some time. Leadfeeder was nearly profitable even before the acquisition, Koskinen said.
Both companies are reporting tens of millions in ARR, and Echobot's revenue increased 70% last year, while Leadfeeder's increased 50%.
We at B2BmodernSelling welcome this development. It will provide us, the sales people, with more end-to-end tools for our work in the future and relieve us of a lot of administrative work, especially thanks to AI-Powered Sales Intelligence.