AngelPad’s CRM Unicorn Pipedrive Sells Majority Stake to Vista Equity Partners for $1.5 Billion

Almost 9 years to the day after Pipedrive launched at AngelPad’s 2011 Demo Day, the company sold a majority stake to Vista Equity Partners.
We are very happy for the founders, the employees and all stakeholders who made this happen – Congratulations.

This is how Techcrunch described Pipedrive as part of their coverage of the 2011 Demo Day in San Francisco.

Today Estonian startup Pipedrive presented at the demo day of the often publicity-shy AngelPad, the San-Francisco-based accelerator founded by ex-Googlers.

The only eastern European startup out of the 15 teams in the accelerator’s summer 2011 edition, Pipedrive is developed by sales people for sales people. What other cloud-based CRM systems are missing, Pipedrive attempts to deliver. The main dashboard shows deals in a pipeline from an initial contact, to contract negotiations to done deals. After 40 initial leads, 20 warm, 15 hot, 8 are closed, to quote their example.

Timo Rein and Urmas Purde, the founders of Pipedrive, are the sales guys. The previous business they co-founded, VAIN & Partners, the Baltic sales training company, sold its services to 10 000 customers. Despite trying out various CRM tools (the latest one costing 50 000 Euros to the company), they ended up using the post-it notes to visualize and discuss their sales pipeline. This is how Rein and Purde managed their sales process before Pipedrive.

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