French CRM outfit Brevo hits unicorn status

French customer relationship management (CRM) company Brevo has achieved unicorn status, following a substantial €500 million funding round. This milestone highlights the growing strength of European tech companies and their ability to compete in the global market, particularly in areas traditionally dominated by US-based firms. The investment underscores the increasing investor confidence in European digital businesses and their potential for expansion and innovation. The funding round saw the participation of General Atlantic and Oakley Capital, joining existing investors, including Bpifrance and Bridgepoint. While Brevo did not disclose its exact valuation, the company confirmed it had reached at least $1 billion. With the new capital, Brevo plans to pursue further mergers and acquisitions, following eleven previous acquisitions, and will invest in its growing presence in the US market. Brevo, headquartered in Paris, has evolved from an email marketing startup into a comprehensive CRM and marketing platform, serving over 600,000 customers. This all-in-one approach allows businesses to manage customer relationships through unified communication channels. Brevo's success presents a challenge to US industry giants like Salesforce and HubSpot, and underscores the potential for European digital alternatives. Founded in 2012, Brevo employs over 1,000 people and has seven offices worldwide. The company's expansion strategy includes leveraging AI-driven customer engagement, particularly for SMBs and mid-market clients, supported by a strong product-led foundation. This highlights the focus on innovative digital solutions emerging from Europe.