logo
logo

Echobot And Leadfeeder Merge, Raise $190M In Euro Sales Tech Consolidation Play

Echobot And Leadfeeder Merge, Raise $190M In Euro Sales Tech Consolidation Play

06/21/22, 8:22 AM
Money raised
$190 million
Industry
software
Sales and marketing has seen a huge boom in the last several years, fueled by developments in user experience and design, innovations around how companies can parse and leverage big data analytics to understand more about their target audiences and tech to connect with them effectively. That’s also led to a profusion of startups and scaling-up mega-businesses in the space — as well as the inevitable consolidation to bring those two groups closer together. In the latest development, two scaling startups in sales intelligence in Europe — Germany’s Echobot and Finland’s Leadfeeder — are merging and together have raised €180 million ($190 million at today’s rates) to fuel their next steps.

Company Info

Company
Echobot
Additional Info
the companies have some 8,500 customers, with an emphasis on working with companies in Europe. Initially the two companies will continue to be run separately with independent brands, but they expect to merge more of their operations and tech together. Both companies note that they had double-digit millions ARR and Echobot’s revenues in the last year grew 70%, while Leadfeeder’s grew 50%.Although the founders note that it was not current market pressure that brought them together, there was perhaps already writing on the wall for consolidating point solutions in the sales technology space. He and the founders all noted that in fact both startups individually had road maps to build features that the other already had. Echobot, meanwhile, is another company building tools to source B2B sales leads and better target teams’ sales efforts. They will potentially also take on a new name by next year, although one point to consider on the branding front is that Echobot is also the name of a Mirai malware variant… Echobot is profitable and has been for some time.