Australian-based email marketing start-up Campaign Monitor has secured US$250 million in venture capital funding from a US investor Insight Venture Partners.
This is the first time that the company, which creates software for e-mail marketing campaigns, has accepted funding from investors.
“I’m excited to announce that for the first time in our 10-year history, Campaign Monitor has raised its first round of funding," joint founder of Campaign Monitor, David Greiner wrote on the company's blog.
“We’ve just taken a $250 million investment from Insight Venture Partners, one of the most experienced tech investors in the world, to help make the next 10 years even more amazing than the last.”
The Wall Street Journal reports that this injection is among the biggest recent venture rounds. Since the start of 2013, only a few companies, including Dropbox, Airbnb and Uber, raised more money from venture-capital firms. As WSJ also notes, it's unusual for a single firm to make such a large investment.
Greiner explains that the business hopes to continue growing however feels as though it needed a partner to really reach its full potential. “We’re also incredibly proud of our bootstrapping heritage,” he writes.
“But the truth is, there’s so much more to be done. We want to make sure we continue to grow our team the right way and stay laser focused on building something that people will still love using a decade from today. Campaign Monitor is just getting started.
“That’s why we’ve partnered up with Insight – a team we’ve built a relationship with over the last five years that have an amazing track record of helping companies we admire. These guys understand our dedication to building a great product and totally get the culture we’ve all worked so hard to create."
Greiner makes one more announcement in his blog post which, due to the cash injection, will probably surprise no one: "If you’re as excited as us about our future and want to be a part of it, we’re hiring and would love to hear from you."
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.
Have something to say? Send us your comments using the form below or contact the writer at adnews@yaffa.com.au
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.