ActiveCampaign is 18 years old, but the company took off five years ago, when it raised outside funding. Since then, the company has grown from 16 employees to more than 850, hiring 300 of them last year. ActiveCampaign says it expects to top 1,000 workers this year.
The subscription-software company raised $100 million in January 2020. Since then it has grown from $100 million in recurring annual sales to $160 million, says CEO Jason VandeBoom. The company declined to say whether it’s profitable.
He says the company will use the funding to continue refining a product that’s now in use in 170 countries and expand into new markets. ActiveCampaign relies on having a product that’s intuitive and low-touch so it doesn’t require a lot of support, which can make servicing the company’s 145,000 customers expensive.
“It’s about how do we reach more customers?” VandeBoom said. “It’s a massive undertaking and opportunity. With the capital, we can invest where it makes sense.”