Infobip is a global Communications Platform as a Service, or CPaaS, and is headquartered in Croatia with an office in Jersey City. The investment will help build Infobip’s presence in North America and accelerate its growth through various acquisitions. This marks the first time the company’s founders have raised outside capital, earning a unicorn valuation of $1 billion with one of the largest European software Series A rounds. The company generated $711.4 million in 2019 revenue, achieving a compounded annual growth rate of 48% over the last decade.
“OEP is excited to partner with Infobip’s co-founders, CEO Silvio Kutić, Roberto Kutić and Izabel Jelenić. Together, we have a shared vision to further accelerate Infobip’s pre-IPO growth in North America and globally by executing a series of identified strategic acquisitions,” Chip Schorr, senior managing director at OEP, said. “We have been deeply impressed with this team, and believe it has built a world class, SaaS-enabled communication platform, powering richer customer interactions for leading global enterprises, while also optimizing performance for its MNO partners.”
Citi and Morrison Foerster advised Infobip, while Latham & Watkins and KPMG advised OEP.
“OEP has deep experience driving transformative growth in the businesses in which it invests, and we’re thrilled to partner with this unique team as we expand Infobip,” said Silvio Kutic, CEO of Infobip. “We believe that conversational user interfaces are transforming the way we interact with digital services, and this will forever change the way we interact with the world around us. We’re headed towards a new era – which we call ‘interaction 4.0’ – replacing the need to browse the web or download an app with conversational interaction as the heart of communication. We plan on being at the forefront of this era, and this investment from OEP will help to get us there.”