Brevo Acquisition, Valuation, Funding & Investors
Brevo was acquired by Bpifrance, Oakley Capital and Bridgepoint Group for $540M in December 2025, a 2.5x multiple on $216M of revenue.
Brevo revenue at acquisition
$216M
Last twelve months · Dec 2025
Brevo revenue multiple at acquisition
2.5x
EV/Revenue · Dec 2025
Brevo EBITDA multiple at acquisition
16.7x
EV/EBITDA · Dec 2025
About Brevo
Brevo is a Paris-based customer-relationship and marketing-software company founded in 2012 by Armand Thiberge. Formerly known as Sendinblue, it provides an integrated cloud suite for email, SMS, WhatsApp and chat communications, marketing automation, transactional messaging and sales-pipeline management. Businesses use the platform to manage customer data, segment audiences, run multichannel campaigns and measure engagement from a unified workspace. Brevo sells recurring subscription plans and usage-based messaging capacity to small businesses, mid-market organisations and larger enterprises. The company reports more than 600,000 customers globally and supports operations across roughly 180 countries. Oakley Capital Fund VI and General Atlantic invested alongside continuing shareholders in December 2025 to support artificial-intelligence development, United States expansion and acquisitions. Brevo remains a privately held business software provider led by its founder and management team.
Founded
2012
HQ
ParisWebsite
Status
Acquired
Customer focus
B2B
Revenue model
Subscription
Revenue
$50M (Sep 2020)
Valuation
$540M (acquired Dec 2025)
Brevo Acquisition
Brevo was acquired by Bpifrance, Oakley Capital and Bridgepoint Group for $540M on 3 December 2025.
The acquisition price implies a 2.5x revenue and 16.7x EBITDA multiple on $216M of revenue.
Before the acquisition Brevo had raised $197M across 3 funding rounds.
Brevo, founded in 2012 as Sendinblue and rebranded in 2023, provides a multichannel CRM and customer engagement platform integrating marketing automation, AI-powered conversational tools, customer data platforms, SMS, WhatsApp, push notifications, and social CRM. It serves over 600,000 customers worldwide in 180 countries, including eBay, H&M, Louis Vuitton, Carrefour, and Michelin, with France, Germany, and the US accounting for 65% of revenue. The company surpassed €200 million in ARR in 2025 with double-digit EBITDA margins, driven by strong mid-market growth where revenue expands twice as fast as the rest of the business, and has completed 11 acquisitions to integrate technologies and expand geographically. On December 4, 2025, Brevo closed a €500 million (over $500 million) financing round structured as a leveraged buyout (LBO), achieving unicorn status. General Atlantic and Oakley Capital joined as new major shareholders each taking 25% stakes, while existing investors Bpifrance and Bridgepoint reinvested as minority shareholders holding 24% combined; Partech fully exited. Brevo's founder Armand Thiberge, management, and employees became the largest shareholder group at 26%. Bpifrance, France's public investment bank, continues its role supporting Brevo's development. Proceeds fund large-scale AI investments, accelerated US expansion, mid-market growth, and intensified M&A to integrate differentiating technologies and boost market share. The deal consolidates Brevo's European leadership and positions it to challenge US CRM giants, targeting €1 billion annual revenue by 2030 with 45% from acquisitions amid competitive dynamics in customer engagement software.
| Acquirer | Date | Type | Price | EV/Revenue | EV/EBITDA |
|---|---|---|---|---|---|
| 3 Dec 2025 | PE buyout | $540M | 2.5x | 16.7x |
Sources: oakleycapital.com
Brevo Revenue
Brevo's latest recorded revenue is $50M, as of its Series B in September 2020.
Brevo revenue by funding round
| Date | Revenue * | Stage |
|---|---|---|
| Sep 2020 | $50M | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Brevo Funding History
Brevo has raised a total of $197M across 3 funding rounds.
Brevo's first fundraising round was a $1M seed round in November 2013. The most recent completed round was a $160M Series B in September 2020.
Brevo funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Sep 2020 | Series B | Bridgepoint Group; Partech; BlackRock; Bpifrance; Adelie | $160M | Brevo, formerly Sendinblue, is a French digital marketing and customer engagement platform offering an all-in-one solution for sales, marketing, CRM, and automation tools targeted at small and medium-sized businesses (SMBs) worldwide. At the time of its October 2020 Series B funding round of $160 million (€140 million), led by Bridgepoint, Bpifrance, and BlackRock, with participation from existing investor Partech and others like Adelie, the company had reached $50M in ARR, served over 180,000 businesses across 160 countries in six languages, and employed more than 400 people with offices in France, Germany, the US, Canada, and India. The funds were earmarked for product expansion, consolidating European SMB leadership, and accelerating global growth, particularly in the US where it achieved 100% year-over-year growth since 2018. This 2020 round ranked among the top largest SaaS and venture capital transactions in France, highlighting Brevo's strong traction and position as Europe's #1 digital marketing platform. Clipperton acted as financial advisor, marking their second collaboration after a 2017 raise. The investment underscored the company's profitability, innovative SMB solutions, and potential for global scalability in integrated marketing. Post-2020, Brevo continued rapid expansion, achieving $100M ARR centaur status by 2022, surpassing $100M ARR while remaining profitable by 2023, and reaching €179M ARR in 2024. In 2025, it became a unicorn via a €500M equity round ($583M) with General Atlantic and Oakley Capital joining, while Bpifrance and Bridgepoint retained minority stakes and Partech exited; it projected over €200M ARR that year with double-digit EBITDA margins. The company operates in 180 countries, with France, Germany, and the US driving 65% of revenues, and maintains aggressive US growth (24% of new revenue) and M&A activity, including 11 acquisitions since inception. |
| Sep 2017 | Series A | Partech (lead) | $36M | Brevo, formerly Sendinblue, is a SaaS marketing and customer engagement platform targeting SMBs, offering email marketing, CRM, and related tools, founded in 2012 and headquartered in Paris. In September 2017, it raised a $35 million Series A round led by Partech Ventures (growth equity arm of Partech), with Clipperton as financial advisor; the funds were intended to fuel international expansion (including offices in Seattle, Paris, and Noida, India), aggressive product development, and hiring around 100 people. At the time, the platform reached 300 million customers monthly across 140 countries in over 10 languages, with 125% year-over-year growth in U.S. new customers (projecting tenfold increase in four years), triple-digit annual growth since inception, and profitability achieved in 2016 on just $1 million prior outside investment. |
| Nov 2013 | Seed | Caloga (lead) | $1M | - |
Who has invested in Brevo?
6 investors have backed Brevo across its funding rounds, including Partech, Bpifrance, BlackRock, Bridgepoint Group, Adelie and Caloga.
Lead investors include Partech and Caloga.
Brevo Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Paris | 2 | Lead | Sep 2017 | |
 London | 1 | Participant | Sep 2020 | |
 New York City, NY | 1 | Participant | Sep 2020 | |
| Paris | 1 | Participant | Sep 2020 | |
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Start Free TrialAcquisitions by Brevo
Brevo has acquired 11 companies to date.
Last acquisition by Brevo was on September 17th 2025. Brevo acquired Cohort for undisclosed valuation.
Latest Acquisitions by Brevo
| Description | Cohort is a web3 platform enabling companies to launch NFT campaigns without cryptocurrency expertise or digital wallets. It streamlines NFT product development and experiences for brands entering blockchain marketing. | WonderPush is a Paris-headquartered push notification platform supporting web and mobile marketing automation. The service enables marketers to send targeted notifications boosting app retention and website engagement through segmentation and A/B testing. WonderPush integrates with CMS like WordPress and analytics tools. Launched in 2015, it powers campaigns for over 10,000 apps across Europe and North America. | Octolis is a Paris-headquartered customer data platform that unifies profiles from sources like Shopify, HubSpot, and Google Analytics into a central database. It synchronizes data bidirectionally with marketing tools such as Klaviyo and Segment. The no-code ETL handles GDPR compliance for European brands. | Captain Wallet is a Paris-based mobile engagement platform leveraging Apple Wallet and Google Pay passes for push notifications without requiring custom app development. Businesses use it to deliver targeted promotions, loyalty programs, and event reminders directly to customers' lock screens. The service integrates with e-commerce systems for real-time updates on orders and subscriptions. Launched to simplify customer retention in retail and services, it processes millions of passes annually across Europe. Key clients include fashion brands and hospitality chains seeking frictionless digital interactions. | |
| HQ Country | | | | | |
| HQ City | Paris | Paris | Paris | Paris | |
| Deal Date | 17 Sep 2025 | 11 Dec 2023 | 11 Dec 2023 | 9 Feb 2023 | |
| Valuation | undisclosed | undisclosed | undisclosed | $7M | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
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Brevo Competitors
Brevo competitors include listed companies like Rezolve AI and Beijing Quanshi World, and private ones like ADA, Databook, RAD AI and Reevo.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Kuala Lumpur | Private | $72M | - | $550M | - | |
| San Francisco, CA | Private | $2M | - | $550M | - | |
| United Kingdom | Publicly listed | $47M | ($109M) | $550M | 2.2x | |
| United States | Private | - | - | $525M | - | |
 China | Publicly listed | $170M | ($19M) | $508M | - | |
| San Jose, CA | Private | - | - | $500M | - |
Brevo Public Comps
Brevo is no longer listed, but its public comps include Rezolve AI, Quadient, Beijing Quanshi World, Capillary Technologies India, Sprout Social, Weimob, Lime Technologies, Nordtech Group, Sidetrade and Coveo Solutions.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $47M | ($109M) | 14.7x | 2.2x | (6.3x) | (12.0x) | |||
| $1.2B | $97M | 1.1x | 1.2x | 13.7x | 5.4x | |||
| $170M | ($19M) | 2.6x | - | (23.7x) | - | |||
| $78M | $13M | 4.8x | 3.7x | 28.9x | 25.2x | |||
| $458M | ($31M) | 1.3x | 1.2x | (18.9x) | 7.3x | |||
| $239M | ($10M) | 1.8x | 1.7x | (45.1x) | 22.6x | |||
| $75M | $23M | 4.9x | 4.5x | 15.9x | 14.2x | |||
| $72M | $15M | 4.9x | - | 24.1x | - | |||
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Common questions about Brevo
| When was Brevo founded? | Brevo was founded in 2012. |
| Where is Brevo headquartered? | Brevo is headquartered in Paris, France. |
| Is Brevo publicly listed? | No, Brevo was acquired by Bpifrance, Oakley Capital and Bridgepoint Group in December 2025. |
| Who acquired Brevo? | Brevo was acquired by Bpifrance, Oakley Capital and Bridgepoint Group in December 2025. |
| How much was Brevo acquired for? | Brevo was acquired for $540M in December 2025, a 2.5x revenue multiple. |
| How much funding has Brevo raised? | Brevo has raised $197M across 3 funding rounds. |
| What was Brevo's last funding round? | Brevo's last funding round was a $160M Series B in September 2020. |
| Who are Brevo's investors? | Brevo's investors include Partech, Bridgepoint Group, BlackRock, Bpifrance, Caloga and Adelie. |
| What is Brevo's revenue? | Brevo's latest recorded revenue is $50M (September 2020). |
| Which companies are comparable to Brevo? | Companies comparable to Brevo include ADA, Databook, Rezolve AI, RAD AI, Beijing Quanshi World and Reevo. |
| How many companies has Brevo acquired? | Brevo has acquired 11 companies, including Cohort, WonderPush, Octolis, Captain Wallet and Yodel.io. |
| What was the largest acquisition by Brevo? | The $7M acquisition of Captain Wallet in February 2023 is the largest acquisition Brevo has made to date. |
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