Last week TMT Investments, a UK-headquartered venture fund backed by Russian businessmen, announced an additional investment in US software publisher Pipedrive.
Incorporated in Delaware and headquartered in California, Pipedrive has developed powerful online sales management software aimed at businesspeople who want to actively drive their sales process and spend less time on administration.
Pipedrive currently employs 21 people in its offices in California and Estonia. Its paying customer base has tripled over the past 12 months, and the software is used by thousands of paying customers in over 100 countries, with the US, Brazil, the UK, Canada, and Australia being the biggest markets, TMT stated.
TMT’s initial investment in Pipedrive was completed in July 2012 and consisted of a $325,000 unsecured convertible promissory note. The new investment amounts to $450,000 in the same form.
TMT, which is listed on the London Stock Exchange, has recently invested in software publisher rollApp, self-service video network Virool, mobile advertising network Adinch, and online service for publishers Graphicly.
