Expedition Growth Capital's transaction allows it to acquire 20% of Lemlist.
Lemlist, a start-up co-founded by Guillaume Moubeche, François, and Vianney Lecroart, has just completed a secondary funding round. The operation was carried out by Expedition Growth Capital, which acquired 20% of the email marketing firm. Lemlist specializes in personalized and automated email marketing.
Since generating its first revenues in 2018, Lemlist has grown rapidly and now has 10,000 clients, with annual recurring revenues of $10 million. The founders' cash-out had a dual purpose: to reduce their level of risk and to start donating shares to employees.
The start-up has also made it into Station F's "Future 40" list, which represents the most promising AI, data, and tech start-ups.
2CFinance, a transaction services firm, provided financial due diligence for the funding round.
Expedition Growth Capital is a venture capital firm that invests in early and growth-stage companies in the technology and consumer sectors.
Lemlist's email marketing platform helps businesses personalize their email outreach and automate their email campaigns. The platform also provides tools for tracking the performance of email campaigns and optimizing them for better results.
The funding will be used to expand the company's product offerings and marketing efforts, as well as to invest in research and development.
Lemlist's success in raising $30 million in funding is a testament to the strength and potential of the personalized email marketing industry. With the rise of automation and data-driven insights, personalized email marketing is becoming an increasingly important tool for businesses looking to connect with their customers in a more meaningful way.
