ActivateCampaign raises $240m in Tiger Global-led funding

The round, valuing the cloud software platform north of $3bn, brought total financing raised to date to $360m.

Tiger Global has led a $240 million funding round into ActiveCampaign, a customer experience automation provider.

The Series C round included the participation of another new investor, Dragoneer, as well as existing investors Susquehanna Growth Equity and Silversmith Capital Partners.

The round, valuing ActiveCampaign in excess of $3 billion, brought total financing raised to date to $360 million. The company has also surpassed $160 million in annual recurring revenue.

ActiveCampaign, based in Chicago, is a cloud software platform for small-to-mid-sized businesses. The company offers software for customer experience automation, which combines email marketing, marketing automation, sales automation and CRM categories.

Silversmith, the company’s first institutional investor, first backed the business in 2016 when it led a $20 million investment in ActiveCampaign. Susquehanna in 2020 joined Silversmith in the $100 million Series B round.

ActiveCampaign says that it is on track to grow to over 1,000 employees by the end of 2021 after adding over 300 employees in 2020. The company is creating a digital-first employment model while recommitting to international hubs in Chicago, Indianapolis, Dublin and Sydney.

The brand has also achieved record usage, with 4 billion weekly automated experiences, 150 million monthly automated campaigns and two million daily predictions. Its partner ecosystem has grown to over 850 technology partners, including Facebook, Microsoft, Zendesk, Salesforce, Google and Shopify.