{"id":42384,"date":"2023-10-20T15:20:48","date_gmt":"2023-10-20T15:20:48","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/how-a-sydney-tech-startup-scored-a-266-million-venture-capital-investment-startupsmart\/"},"modified":"2023-10-20T15:20:48","modified_gmt":"2023-10-20T15:20:48","slug":"how-a-sydney-tech-startup-scored-a-266-million-venture-capital-investment-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/how-a-sydney-tech-startup-scored-a-266-million-venture-capital-investment-startupsmart\/","title":{"rendered":"How a Sydney tech startup scored a $266 million venture capital investment – StartupSmart"},"content":{"rendered":"
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Sydney-based Campaign Monitor secured a US$250 million ($266 million) investment by venture capital firm Insight Venture Partners yesterday.<\/p>\n

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The email marketing company started in 2004 and now has 65 employees across 19 cities with more than 100,000 paying customers.<\/p>\n

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Friends since they were toddlers, co-founders David Greiner and Ben Richardson started Campaign Monitor in their final year of university in Wollongong and now the business sends 1 billion emails a month.<\/p>\n

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\u201cThere was no great formula,\u201d Greiner told SmartCompany<\/em> back in 2007. \u201cWe had to make sure it was something people need and was worth paying for. Then it would sell itself.\u201d<\/p>\n

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Campaign Monitor has been profitable since day one allowing Greiner and Richardson to self-fund the business up until now.<\/p>\n

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Insight\u2019s investment represents Campaign Monitor\u2019s first ever funding and follows sales growth of \u201csolid double digits\u201d annually for the last decade.<\/p>\n

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Deven Parekh, managing director at Insight, said the VC firm was attracted by Campaign Monitor\u2019s profitability since launch and market leading position.<\/p>\n

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\u201cInsight\u2019s investment will help the company capitalise on the global demand for their solutions and build a global team to serve customers in all markets,\u201d he said in a statement.<\/p>\n

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Writing on Campaign Monitor\u2019s blog Greiner described Insight as \u201cone of the most experienced tech investors in the world\u201d and said Campaign Monitor has had a \u201cfive-year relationship\u201d with the VC firm.<\/p>\n

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Greiner said the funding will \u201chelp make the next 10 years even more amazing than the last\u201d and will be used for product innovation and accelerated global expansion.<\/p>\n

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\u201cTimes like these force you to look back to where it all started. It honestly feels like yesterday that Ben and I were running our own small design agency out of a spare room, building websites and managing email campaigns for our clients,\u201d he said.<\/p>\n

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\u201cAs an agency with fairly unique needs, it wasn\u2019t long before we grew frustrated with the tools available to manage these campaigns, and eventually decided the only way to solve it was to build our own.  It\u2019s funny how small decisions like that can have such a big impact on your life.\u201d<\/p>\n

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Greiner says the pair are \u201cincredibly proud\u201d of what he describes as Campaign Monitor\u2019s \u201cbootstrapping heritage\u201d.<\/p>\n

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\u201cBeing focused on running a profitable business from day one has given us the freedom to do things our own way, even if that\u2019s in a completely different direction to most of our competitors,\u201d Greiner says.<\/p>\n

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\u201cWe\u2019ve grown into the business we are today by focusing on what matters: building software that people love to use and making sure our customers have an amazing experience doing business with us.\u201d<\/p>\n

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Greiner and Richardson will continue to lead Campaign Monitor and Insight\u2019s managing directors Deven Parekh and Nikitas Koutoupes, and associate Dan May, will join Campaign Monitor\u2019s board.<\/p>\n

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This article first appeared on SmartCompany.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Sydney-based Campaign Monitor secured a US$250 million ($266 million) investment by venture capital firm Insight Venture Partners yesterday.   The<\/p>\n","protected":false},"author":2,"featured_media":60365,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13,18,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/42384"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=42384"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/42384\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/60365"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=42384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=42384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=42384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}