Pipedrive, the sales CRM tool for small and medium-sized businesses, is the latest European company to reach unicorn status.
Founded in Estonia and now headquartered in New York, the company has taken a majority investment from U.S. enterprise software-focused private equity firm Vista Equity Partners . This means that Vista has effectively acquired Pipedrive, in the sense that the PE firm now has a majority stake. Multiple sources with knowledge of the deal tell TechCrunch the transaction values Pipedrive at .5 billion dollars. The official announcement also makes mention of unicorns.
We’re also told that Pipedrive’s existing investors Bessemer Venture Partners, Insight Partners, Atomico, DTCP and Rembrandt Venture Partners will continue as minority investors in the company. Asked which shareholders exited, a spokesperson for Pipedrive says that this is not a secondary funding round, underlining that all major investors as well as the company’s founders, Timo Rein and Urmas Purde, continue invested in Pipedrive’s potential for further growth in the next few years.