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Oakley Capital invests in Brevo, Europe’s leading customer engagement platform

Oakley Capital
04.12.25
2 min read

Oakley Capital, a leading mid-market private equity investor, is pleased to announce that Oakley Capital Fund VI is investing in Brevo, a European leader in customer engagement software (or “the Company), alongside General Atlantic. Bpifrance and Bridgepoint will remain minority investors. Following this transaction, Brevo’s management – including founder and CEO Armand Thiberge- and employees will become the company’s largest combined shareholder. 

Brevo CTA

Founded in Paris in 2012, Brevo is a comprehensive customer engagement platform, providing marketing automation capabilities to more than 600,000 customers.

The product offering allows for communication across multiple communications channels (Email, WhatsApp, SMS, etc.), in addition to offering Customer Relationship Management (CRM) and Customer Data Platform (CDP) capabilities.

Brevo operates in a rapidly expanding market, estimated to be worth approximately €6 billion, as businesses increasingly seek to automate their marketing to boost lead generation and enhance customer engagement.

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Recurring revenues

Under Armand’s leadership, Brevo has scaled into a global platform, delivering 20%+ annual revenue growth and generating approximately 99% of its revenue on a recurring basis. 

The company will surpass €200 million in ARR (Annual Recurring Revenue) in 2025, with a double-digit EBITDA margin. Today Brevo serves customers of all sizes across 180 countries, including France, Germany and USA, which together account for 65% of total revenues.

The new funding will support continued large-scale investments in AI, accelerated growth in the United States, and an intensified M&A strategy. Oakley and General Atlantic will partner with Armand and his team to accelerate the company’s global expansion, particularly in North America, and to deepen its AI product roadmap.  

Both Oakley and General Atlantic bring deep domain expertise in SMB software and a strong track record of scaling category leaders globally. In particular, Oakley will draw on its extensive experience in supporting technology businesses through international expansion and M&A, including its work with marketing technology company Seedtag and SaaS provider Grupo Primavera, now part of Cegid.

Quote Armand Thiberge

I’m very pleased to welcome Oakley Capital and General Atlantic, two global investment firms that share our vision and high standards. Our ambition remains unchanged: to build a global European CRM leader capable of competing with US players through product excellence. This new phase will allow us to further accelerate our product roadmap, notably by leveraging AI, and to strengthen our operational excellence.

Armand Thiberge

Founder & CEO — Brevo

Quote Peter Dubens

We’re pleased to be partnering with a proven founder like Armand. He has built a remarkable company combining a unique product offering, international scale, and profitable growth. We see significant opportunity to further internationalise the business and expand into the mid-market, and we look forward to working in partnership with Brevo and General Atlantic to achieve this.

Peter Dubens

Co-Founder & Managing Partner — Oakley Capital

Quote Sascha Günther

We see strong secular tailwinds in AI-driven customer engagement software platforms that serve SMBs and mid-market clients. Brevo is uniquely positioned at the centre of this shift—with a product-led, capital-efficient foundation, and a visionary founder in Armand. We’re excited to support Brevo in becoming a global category leader.

Sascha Günther

Managing Director — General Atlantic

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