Brevo’s $583M Funding Aims to Challenge CRM Giants
▼ Summary
– Brevo, a Paris-based CRM company formerly known as Sendinblue, has become a unicorn after raising €500 million in equity funding to compete with giants like HubSpot and Salesforce.
– The company has grown from an email marketing tool to a broader platform serving over 600,000 customers, including major brands like Carrefour and eBay.
– A key goal for the new funding is aggressive expansion in the U.S. market, where Brevo aims to increase its revenue share from 15% to 50%.
– Brevo plans to invest heavily in AI and acquisitions, with over €100 million earmarked for U.S. growth and acquisitions expected to drive nearly half of its €1 billion 2030 revenue target.
– The company’s ownership remains led by management and employees (26%), with new investors General Atlantic and Oakley Capital each acquiring 25%, reflecting its ambition to compete globally through product excellence.
Brevo, a Paris-based customer relationship management firm, has secured a massive €500 million in equity funding, propelling it into the coveted unicorn status with a valuation exceeding one billion dollars. This substantial war chest is earmarked for a direct challenge to established CRM giants like HubSpot and Salesforce, with a significant focus on expanding its footprint in the crucial North American market. The company, which began over a decade ago as an email marketing tool called Sendinblue, has transformed into a comprehensive platform serving over 600,000 clients, from small shops to major brands like Carrefour and eBay.
The United States currently accounts for 15% of Brevo’s revenue, a figure CEO Armand Thiberge finds insufficient given the market’s size. He has stated that the U.S. represents about half of the global CRM opportunity and should therefore contribute a proportional share to the company’s income. A considerable portion of the new funding, over €100 million, will be dedicated to aggressive growth initiatives stateside. This push comes as the company’s financial momentum builds; it recently achieved its 2025 goal of surpassing €200 million in annual recurring revenue ahead of schedule and now eyes an ambitious target of €1 billion by 2030.
While this growth is impressive, Brevo remains a much smaller player compared to industry titan Salesforce. However, its new unicorn status and financial backing are seen as key tools to elevate its profile and competitive edge. The funding round was led by new investors General Atlantic and Oakley Capital, each acquiring a 25% stake. Brevo’s management and employees retain the largest single share at 26%, underscoring a commitment to maintaining strategic control while fueling global ambitions. The company’s approach is firmly product-centric, with Thiberge believing victory in the CRM space belongs to whoever builds the most complete and user-friendly platform, rather than relying on regional loyalty.
To serve its broad customer base, which spans from solo entrepreneurs to mid-sized enterprises, Brevo has evolved far beyond simple email campaigns. Its current all-in-one suite includes marketing automation, full CRM capabilities, customer data management, and omnichannel communication across email, SMS, WhatsApp, live chat, and more. Artificial intelligence is a central pillar of its product roadmap, with plans to invest €50 million in AI development over the next five years. The company also leverages acquisitions as a core growth strategy, having completed 11 deals to date. It anticipates that nearly half of its projected €1 billion revenue in 2030 will come from such inorganic growth, indicating an active and ongoing pursuit of strategic mergers and acquisitions.
(Source: TechCrunch)
