Brevo’s recent achievement as Europe’s newest unicorn following a €500 million share sale is a landmark for European startups, marking the company’s steady rise in the competitive SaaS sector. The Paris-based CRM and marketing platform was valued at over €1 billion post-deal, adding new momentum to its ambitious goal of capturing significant global market share, particularly in the United States.
The Outcome of a Strategic Share Sale
This €500 million transaction was structured as a secondary share sale, providing liquidity to earlier investors and giving entry to heavyweights like General Atlantic and Oakley Capital. This reshuffle in share ownership means Brevo’s management and employees now hold the largest stake at 26%, a rare occurrence for a European unicorn. Partech, the French VC investor that backed Brevo early in 2017, opted for a full exit during this round.
Interestingly, this strategic decision comes at a time when IPO markets in Europe present limited opportunities for such startups to achieve their desired valuations. Brevo has hinted at a potential IPO in the next 4–7 years, prioritizing a European listing to reflect its dedication to digital sovereignty and local engagement.
Brevo by the Numbers
Brevo is eyeing significant growth within the CRM and marketing space targeting small and medium-sized businesses. With 600,000+ clients worldwide, the company’s ARR has already surpassed €100 million and could exceed €200 million in 2025. Long-term goals include breaking past the €1 billion revenue mark by 2030. About 70% of its clients are from Europe, while 15% are in the U.S., which is considered a lucrative market worth half of the global CRM industry’s value.
A key part of its expansion efforts includes spending more than €100 million over the next four years to solidify its footprint in the U.S. Brevo also plans to triple its workforce to 3,000 staff by 2030, expecting acquisitions to fuel much of this growth.
Common Missteps in Scaling Globally
From my years running startups in various sectors, I’ve seen businesses stumble by underestimating regulatory dynamics in new markets or overequipping themselves before securing a target customer base. Brevo’s heavy investment into new markets like the U.S. should ideally focus on creating localized value and carefully selecting acquisitions to complement its core strengths. Many companies make the mistake of chasing expansion too rapidly without sustainable strategies for adapting offerings to foreign markets.
Strategy Behind Secondary Sales Versus IPOs
As someone who has raised funds both privately and through grants, I find secondary share sales intriguing. Brevo’s choice reflects a mature understanding of market dynamics, offering liquidity to earlier backers while inviting strategic investors who bring expertise necessary for aggressive global expansion. It’s a deliberate maneuver, especially given the current realities of IPO difficulties in Europe. This choice allowed Brevo the flexibility to remain private while continuing its growth pursuit unabated.
Lessons Entrepreneurs Can Take Away
If you’re scaling a business, Brevo’s moves offer two valuable lessons. First, secondary share sales can be a great stepping stone toward long-term goals without the pressure of quarterly reports or public market volatility. Second, focusing on a scalable business model early has long-term payoffs, especially in subscription-driven SaaS businesses like CRM and marketing platforms. They’ve managed to prioritize profitability while aiming high, an approach rarely seen in VC-dependent startups.
A How-to Guide for Taking Notes from Brevo
- Set Long-Term Targets: Whether it’s ARR, customer base, or market reach, define specific priorities that create momentum around achievable goals.
- Pick Expansion Markets Strategically: For instance, assume a conservative start in non-European locations and adapt product features for local needs.
- Engage Meaningfully with Investors: Go beyond fundraising discussions; investors like General Atlantic bring U.S. market insights that can align capital with operations.
- Maintain Control: If possible, retain majority stakes internally to stay flexible and true to your business values.
- Stay Patient with IPO Decisions: Positive positioning in private markets gives companies time to decide if and when public listing is necessary.
Conclusion
Brevo’s ascension to unicorn status showcases the evolving legwork involved in building value through SaaS, futuring out business goals, and cautiously scaling global ambitions. Its €500 million secondary share sale is a clever tool for balancing investor priorities while mapping progressive growth. Rather than taking risks for immediate accolades, Brevo has demonstrated patience, an attribute that many startups would do well to embrace.
If you’re growing or sustaining your own SaaS startup, consider strategies inspired by Brevo to better navigate funding challenges, risk management, and the complexities of global market entry. For more detailed insights about how Brevo’s plans line up with other CRM players, read about expanded funding efforts by General Atlantic.
FAQ
1. What is Brevo, and why is it significant?
Brevo is a Paris-based CRM and marketing SaaS platform that has achieved unicorn status, being valued at over €1 billion after a €500 million share sale. This success signifies its competitive position in the global CRM space, particularly as an alternative to Salesforce. Explore Brevo
2. How did Brevo achieve unicorn status?
Brevo reached unicorn status through a €500 million secondary share sale, allowing liquidity for earlier investors and introducing major stakeholders such as General Atlantic and Oakley Capital. Read more on Brevo's unicorn milestone
3. Who are the key investors in Brevo after the share sale?
General Atlantic and Oakley Capital are now among the key investors, each holding significant stakes. Notably, Partech, an early investor since 2017, chose a full exit. Learn more about Brevo's investors
4. What is Brevo's revenue and market focus?
Brevo recorded an ARR of over €100 million in 2025 and aims for €200 million by 2025 and €1 billion by 2030. Approximately 70% of its clients are in Europe, with a strong focus on expanding in the U.S. market. Check out Brevo's growth plans
5. Why did Brevo opt for a secondary share sale instead of an IPO?
Due to the unfavorable IPO market conditions in Europe, Brevo chose a secondary share sale to provide liquidity while inviting strategic investors. It is considering a European IPO within the next 4–7 years. Explore Brevo's share sale strategy
6. What are Brevo's future expansion plans?
Brevo plans to invest over €100 million into its U.S. operations over four years and to grow its staff to 3,000 by 2030. It also intends to pursue strategic acquisitions to fuel growth. Learn more about Brevo's U.S. expansion
7. What is the ownership structure of Brevo after the share sale?
Brevo's management and employees collectively own 26% of the company, making them the largest shareholders, which is notable for a European unicorn. Discover Brevo's unique ownership structure
8. How does Brevo plan to compete with heavyweights like Salesforce?
Brevo differentiates itself by targeting small and medium-sized businesses with a multi-channel CRM approach while heavily investing in AI and acquisitions to enhance its offerings and geographical reach. Read more on Brevo's competitive strategy
9. How profitable is Brevo, and what are its financial targets?
Brevo has been profitable for two consecutive years and is on track to double its ARR by 2025, with a long-term goal of achieving €1 billion in revenue by 2030. Learn details about Brevo's financial trajectory
10. Does Brevo plan to remain globally private or pursue an IPO?
Brevo’s CEO has hinted at a European IPO in the next 4–7 years, emphasizing the importance of digital sovereignty and reflecting the company’s European origins in public markets. Discover Brevo’s IPO plans
About the Author
Violetta Bonenkamp, also known as MeanCEO, is an experienced startup founder with an impressive educational background including an MBA and four other higher education degrees. She has over 20 years of work experience across multiple countries, including 5 years as a solopreneur and serial entrepreneur. Throughout her startup experience she has applied for multiple startup grants at the EU level, in the Netherlands and Malta, and her startups received quite a few of those. She’s been living, studying and working in many countries around the globe and her extensive multicultural experience has influenced her immensely.
Violetta Bonenkamp's expertise in CAD sector, IP protection and blockchain
Violetta Bonenkamp is recognized as a multidisciplinary expert with significant achievements in the CAD sector, intellectual property (IP) protection, and blockchain technology.
CAD Sector:
- Violetta is the CEO and co-founder of CADChain, a deep tech startup focused on developing IP management software specifically for CAD (Computer-Aided Design) data. CADChain addresses the lack of industry standards for CAD data protection and sharing, using innovative technology to secure and manage design data.
- She has led the company since its inception in 2018, overseeing R&D, PR, and business development, and driving the creation of products for platforms such as Autodesk Inventor, Blender, and SolidWorks.
- Her leadership has been instrumental in scaling CADChain from a small team to a significant player in the deeptech space, with a diverse, international team.
IP Protection:
- Violetta has built deep expertise in intellectual property, combining academic training with practical startup experience. She has taken specialized courses in IP from institutions like WIPO and the EU IPO.
- She is known for sharing actionable strategies for startup IP protection, leveraging both legal and technological approaches, and has published guides and content on this topic for the entrepreneurial community.
- Her work at CADChain directly addresses the need for robust IP protection in the engineering and design industries, integrating cybersecurity and compliance measures to safeguard digital assets.
Blockchain:
- Violetta’s entry into the blockchain sector began with the founding of CADChain, which uses blockchain as a core technology for securing and managing CAD data.
- She holds several certifications in blockchain and has participated in major hackathons and policy forums, such as the OECD Global Blockchain Policy Forum.
- Her expertise extends to applying blockchain for IP management, ensuring data integrity, traceability, and secure sharing in the CAD industry.
Violetta is a true multiple specialist who has built expertise in Linguistics, Education, Business Management, Blockchain, Entrepreneurship, Intellectual Property, Game Design, AI, SEO, Digital Marketing, cyber security and zero code automations. Her extensive educational journey includes a Master of Arts in Linguistics and Education, an Advanced Master in Linguistics from Belgium (2006-2007), an MBA from Blekinge Institute of Technology in Sweden (2006-2008), and an Erasmus Mundus joint program European Master of Higher Education from universities in Norway, Finland, and Portugal (2009).
She is the founder of Fe/male Switch, a startup game that encourages women to enter STEM fields, and also leads CADChain, and multiple other projects like the Directory of 1,000 Startup Cities with a proprietary MeanCEO Index that ranks cities for female entrepreneurs. Violetta created the "gamepreneurship" methodology, which forms the scientific basis of her startup game. She also builds a lot of SEO tools for startups. Her achievements include being named one of the top 100 women in Europe by EU Startups in 2022 and being nominated for Impact Person of the year at the Dutch Blockchain Week. She is an author with Sifted and a speaker at different Universities. Recently she published a book on Startup Idea Validation the right way: from zero to first customers and beyond, launched a Directory of 1,500+ websites for startups to list themselves in order to gain traction and build backlinks and is building MELA AI to help local restaurants in Malta get more visibility online.
For the past several years Violetta has been living between the Netherlands and Malta, while also regularly traveling to different destinations around the globe, usually due to her entrepreneurial activities. This has led her to start writing about different locations and amenities from the POV of an entrepreneur. Here’s her recent article about the best hotels in Italy to work from.
About the Publication
Fe/male Switch is an innovative startup platform designed to empower women entrepreneurs through an immersive, game-like experience. Founded in 2020 during the pandemic "without any funding and without any code," this non-profit initiative has evolved into a comprehensive educational tool for aspiring female entrepreneurs.The platform was co-founded by Violetta Shishkina-Bonenkamp, who serves as CEO and one of the lead authors of the Startup News branch.
Mission and Purpose
Fe/male Switch Foundation was created to address the gender gap in the tech and entrepreneurship space. The platform aims to skill-up future female tech leaders and empower them to create resilient and innovative tech startups through what they call "gamepreneurship". By putting players in a virtual startup village where they must survive and thrive, the startup game allows women to test their entrepreneurial abilities without financial risk.
Key Features
The platform offers a unique blend of news, resources,learning, networking, and practical application within a supportive, female-focused environment:
- Skill Lab: Micro-modules covering essential startup skills
- Virtual Startup Building: Create or join startups and tackle real-world challenges
- AI Co-founder (PlayPal): Guides users through the startup process
- SANDBOX: A testing environment for idea validation before launch
- Wellness Integration: Virtual activities to balance work and self-care
- Marketplace: Buy or sell expert sessions and tutorials
Impact and Growth
Since its inception, Fe/male Switch has shown impressive growth:
- 5,000+ female entrepreneurs in the community
- 100+ startup tools built
- 5,000+ pieces of articles and news written
- 1,000 unique business ideas for women created
Partnerships
Fe/male Switch has formed strategic partnerships to enhance its offerings. In January 2022, it teamed up with global website builder Tilda to provide free access to website building tools and mentorship services for Fe/male Switch participants.
Recognition
Fe/male Switch has received media attention for its innovative approach to closing the gender gap in tech entrepreneurship. The platform has been featured in various publications highlighting its unique "play to learn and earn" model.