The Paris-based customer relationship management (CRM) company Brevo has achieved unicorn status after securing €500 million ($583 million) in a recent equity funding round. This significant investment will fuel Brevo’s ambition to compete directly with established CRM leaders like Hubspot and Salesforce, both in Europe and within the U.S. market. This milestone signals a new phase for Brevo as it seeks to expand its reach and impact within the competitive CRM landscape, and the New unicorn Brevo raises $583M to challenge CRM giants.
Key Developments
Brevo, previously known as Sendinblue, has evolved from its origins as an email marketing solution for small businesses in 2012. The company strategically rebranded to Brevo, reflecting its expanded suite of services and targeting a broader market segment, including mid-sized enterprises. This transformation has resulted in a substantial customer base of over 600,000 clients, ranging from small business owners to major corporations such as Carrefour, eBay, and H&M. The New unicorn Brevo raises $583M to challenge CRM giants and expand their reach.
The company’s growth trajectory has been impressive. In 2023, Brevo entered the “centaur club” by surpassing $100 million in annual recurring revenue (ARR). It has now achieved its goal of exceeding €200 million in ARR ahead of its initial 2025 target. The ambitious long-term objective is to reach €1 billion in ARR by 2030, a goal revealed by CEO Armand Thiberge.
Strategic Focus on U.S. Market
While Brevo’s current revenue distribution shows that the U.S. accounts for 15% of its total revenue, alongside France and Germany, CEO Armand Thiberge aims for a significant increase in the U.S. market share. He believes that the U.S., representing 50% of the global market, should also contribute 50% to Brevo’s revenue. A substantial portion of the newly acquired funding will be allocated to fuel growth initiatives within the U.S., with plans to invest over €100 million in this key market. The New unicorn Brevo raises $583M to challenge CRM giants, focusing specifically on expansion within the United States.
Despite its growth, Brevo still lags behind industry giants like Salesforce, which projects revenue of $41.55 billion for 2026. However, Brevo hopes that its newly acquired unicorn status, coupled with the fresh equity funding and existing debt, will enhance its brand recognition and market presence. The company also reports a “double-digit EBITDA margin,” indicating healthy profitability. The New unicorn Brevo raises $583M to challenge CRM giants and become a major player in the CRM industry.
Investment in AI and Strategic Acquisitions
Brevo plans to invest €50 million in artificial intelligence (AI) over the next five years to enhance its platform capabilities. Additionally, the company intends to leverage acquisitions as a key growth strategy, having already completed 11 acquisitions to date. These investments are supported by the recent funding round, which will also bolster the company’s U.S. expansion efforts. The company is aiming to create a competitive product that is complete and easy to use.
With acquisitions expected to contribute 45% of its €1 billion revenue target for 2030, Brevo is actively seeking strategic acquisitions in key markets. This inorganic growth strategy is a vital component of the company’s overall expansion plans. The New unicorn Brevo raises $583M to challenge CRM giants through AI development and acquisitions.
Updated Cap Table and Global Ambitions
While the exact valuation from the latest funding round remains undisclosed, Brevo has provided details on its updated cap table. Management and employees retain the largest share at 26%, while new investors General Atlantic and Oakley Capital each acquired 25%. Existing investors Bpifrance and Bridgepoint hold 24% each, and Series A lead Partech has exited its position. The New unicorn Brevo raises $583M to challenge CRM giants, and the cap table reflects its global ambitions.
This ownership structure reflects Brevo’s ambition to establish itself as a global European CRM leader capable of competing with U.S. players through product excellence, rather than relying on regional advantages. The company aims to provide a comprehensive and user-friendly platform that caters to both mid-market companies and small businesses, a strategy that has proven successful thus far.
In conclusion, Brevo’s successful funding round and attainment of unicorn status mark a significant milestone in its journey to challenge established CRM giants. With strategic investments in AI, targeted acquisitions, and a strong focus on expanding its U.S. market presence, Brevo is well-positioned to achieve its ambitious growth targets. The New unicorn Brevo raises $583M to challenge CRM giants and sets the stage for an exciting period of innovation and expansion in the CRM industry.
Official guidance: IEEE — official guidance for New unicorn Brevo raises $583M to challenge CRM giants
Table of contents
Technology Disclaimer: Product specifications and features may change. Always verify current information with official sources before making purchase decisions.
Explore more: related articles.