Dave and Ben making the announcement to the Campaign Monitor Team
Australia’s largest ever venture capital investment in technology was made in the past few days. Campaign Monitor secured $250 Million dollars in investment, as reported in the Financial Review in the past hour. The email service provider has grown to become a leader in the space under the watchful eye of its founders Ben Richardson and Dave Greiner, two surfers and incredibly astute businessmen from the Sydney suburbs.
On the company blog Dave stated “Today, Campaign Monitor has 65 employees across 19 cities and more than 100,000 paying customers in 170 countries. We’ve delivered billions of beautifully designed emails for the most amazing customers on the planet and have been growing at solid double digits annually every year for the last decade.”
Recently featured on shoestring.com.au who said “When it comes to email marketing platforms for business, Richardson and Greiner are kicking it with the top companies in the world. The bootstrapped beachside startup now boasts over 800,000 customers; and those people are using Campaign Monitor to send 1.3 billion communications to their clients per month.”
The investment is from ‘Insight Venture Partners’ a leading global private equity and venture capital firm that has invested in more than 200+ growth-stage companies, including previous success with ExactTarget and Twitter, current investments include other non competing business in the email space including giants LivingSocial and Grupalia. Standard & Poor’s were quick to review the company and they said today that it had assigned its long-term issuer credit rating of ‘B’ to Campaign Monitor. The outlook on the long-term rating is stable. Explaining the assessment “the group’s high profit margins, low capital intensity, diverse customer base, and growing global demand for e-mail marketing products and services,” said Standard & Poor’s credit analyst Paul Draffin.
Read more about it on the Campaign Monitor blog.