Vancouver-based Unbounce has merged with San Francisco-based customer relationship management (CRM) firm Insightly.
Unbounce said in a statement that the merger will allow it to leverage customer data with more comprehensive metrics, like revenue and lifetime value data, while Insightly will be able to apply Unbounce’s artificial intelligence (AI) expertise into its platform. The combined company will have more than 200 employees across Europe and North America, according to Unbounce.
Unbounce vice-president of growth marketing Alex Nazarevich declined to provide financial details of the deal, but told BetaKit that it officially acquired Insightly on July 10 and that Unbounce will maintain its Canadian operations. Following the announcement of the merger, Insightly changed its name on LinkedIn to “Insightly, an Unbounce Company.” Nazarevich said that the two companies will continue to operate as two distinct brands in the short-term, with Unbounce acting as the parent company.
Unbounce offers software designed to help marketers build and test landing pages without a web developer, as well as AI-powered conversion optimization software. Unbounce raised its first major round of funding in 2020. Crest Rock Partners, a Denver-based private equity firm, acquired a controlling stake at that time.
Founded in 2009, Insightly’s CRM helps companies track and maintain their sales and marketing campaigns as well as integrate external customer service, accounting, and human resources tools. Insightly says it is backed by $38 million in funding over three rounds, with its most recent external fundraising coming from a $25-million Series C round in 2016.
According to Nazarevich, Insightly has been an Unbounce customer for years, an “exciting coincidence” that did not influence the decision to merge. With this merger, Unbounce can now leverage Insightly’s CRM data. Unbounce also hopes to add its landing page builder functionality to Insightly’s marketing automation platform.
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“Real innovation means delivering deeper value to customers, and the combined forces of these two companies will increase the quality of both product offerings and of the future combined product portfolio,” Unbounce CEO Steve Oriola said in a statement.
Nazarevich told BetaKit that “the majority” of its executive team was retained with the merger, and that Oriola will remain as CEO of the combined company. Additionally, Insightly’s senior vice-president of engineering, Patrick Kaldawy, and vice-president of marketing and strategy, Valerie Riley, joined Unbounce’s senior leadership team.
Nazarevich said that Unbounce and Insightly chose to consolidate their teams, which led to “some reductions” across both companies “due to redundancies.”
Oriola has only been leading Unbounce since January, when the company replaced former CEO Felicia Bochicchio. Unbounce said Oriola’s appointment brought two decades of experience scaling business-to-business (B2B) software platforms, adding that the company plans to “leverage his extensive experience and fresh perspective to drive both growth and innovation at Unbounce.”
Bochicchio had worked at Unbounce for over five years, taking the CEO role in October 2021 when co-founder Rick Perreault left the company to focus on his health. Bochicchio’s early 2024 department came just after chief marketing officer Peter Housley also left. He had joined the company in May 2022 as part of a leadership expansion, which was promptly followed by Unbounce laying off 20 percent of its staff in August 2022.
UPDATE (07/18/2024): This story has been updated with additional information and commentary from Unbounce vice-president of growth marketing Alex Nazarevich.
Feature image courtesy Unbounce.