Great Hill Partners has invested $180m to merge Echobot and Leadfeeder, creating an AI-powered sales intelligence and marketing platform.
The private equity house also committed an additional €50m for the combined company to pursue strategic acquisitions.
Great Hill growth partner Derek Schoettle said, “Go-to-market is one of the fastest-growing areas of B2B software.
“Sales and marketing organizations need timely, accurate information and intelligent systems to identify and engage their prospects in an increasingly personalized, automated fashion.
“By bringing together Echobot and Leadfeeder, we can create the next-generation sales intelligence and go-to-market platform.”
Bastian Karweg, CEO of Echobot, added, “It is our goal to be the leading sales intelligence and go-to-market platform to our core European and North American markets.
“Thanks to Great Hill, we have now assembled the best data, AI / ML, talent, and operating experience to achieve just that.
“We are increasingly seeing organizations looking to take advantage of their own data and third-party data, and then to augment this intelligence with better, more personalized outreach.
“The combination of Echobot and Leadfeeder is uniquely positioned to capitalize on a massive market opportunity at the early stages of adoption.”
Great Hill, a Boston-based private equity house with Blackstone as an investor, hit a $4.65bn final close for its latest fundraise earlier this year.
The new vehicle dwarfs the $2.5bn Fund VII Great Hill raised in 2019, with Fund VIII coming in well above its $3.5bn target.
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