CHICAGO--(BUSINESS WIRE)--ActiveCampaign, a leader in intelligence-driven marketing & sales automation, has closed on $20 million from Boston-based growth equity firm Silversmith Capital Partners.
ActiveCampaign’s platform drives the marketing and sales processes of tens of thousands of small and medium sized businesses worldwide. Since the start of 2015 they have experienced a growth rate of over 550% and expanded their team from 14 employees to over 75.
The company plans to use the capital to aggressively pursue innovations in customer lifecycle marketing and predictive modeling to automatically detect, predict, and solve business challenges.
“We have an exciting roadmap ahead of us. There has been a true disconnect between the all-in-one solutions of the past and the more modern needs of an intelligence-driven approach for marketing, sales, and customer success teams. I am thrilled to have found a partner that shares both our vision and our product-first focus,” said Jason VandeBoom, Founder and CEO of ActiveCampaign.
Silversmith Capital Partners is Boston-based growth equity firm with a mission to back outstanding entrepreneurs in SaaS, information services, and healthcare IT verticals. Managing Partner Todd MacLean, one of the firm’s co-founders, will join the ActiveCampaign board and Sri Rao, a Vice President, will become an observer.
“We have been incredibly impressed by what Jason, as a founder who has bootstrapped his company, has built - and built profitably,” said MacLean, “He and the company are just getting started.”
MacLean continued, “We think a marker of truly great software companies, ones like Solarwinds, SurveyMonkey, and Atlassian, is having a product customers like so much that it is really bought, not sold. The ActiveCampaign community is passionate, fiercely loyal, and seeing impressive results using the platform. We think this speaks volumes to how Jason has thoughtfully built the product with his customer in mind. We couldn’t be more excited to become his partners.”
Recognized as a leader in the marketing and sales automation space, ActiveCampaign helps businesses grow by strengthening their relationship with customers utilizing a blend of automation and human touch. Companies are able to automate many behind the scenes processes and communicate with their customers across channels with personalized, intelligence-driven messages. For more information, visit www.activecampaign.com.
About Silversmith Capital Partners:
Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $460 million of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. The firm seeks to invest $15 million to $50 million per company, with the ability to increase the equity commitment in select situations. The founders have over four decades of collective investing experience and have served on the boards of numerous successful growth companies including Ability Networks, Accelecare Wound Centers, Dealer.com, Geofeedia, Liazon, Liberty Dialysis, MedeAnalytics, MedHOK, National Cardiovascular Partners, Net Health, Passport Health, SurveyMonkey, Wrike and Yapstone. For more information, visit www.silversmithcapital.com.