Bridgepoint to reinvest in Brevo, as the company reaches “unicorn” status

• Brevo has grown ARR ~5x since Bridgepoint’s initial minority investment in 2020, becoming one of Europe’s leading customer activation platforms
• The business has scaled internationally, with expansion across Europe and North America, while delivering attractive SaaS metrics including double-digit EBITDA margins
• Bridgepoint will fully exit its BDC III stake and reinvest through BDC V, supporting Brevo’s next phase of product, AI and go-to-market expansion

Bridgepoint announced that it has reinvested in Brevo, a European leader in customer engagement software, as part of the company’s latest €500 million financing round. As a result of the round, Brevo has officially become a “unicorn” for the first time.

Reflecting its conviction in Brevo’s long-term growth potential, Bridgepoint has reinvested as a minority shareholder through Bridgepoint Development Capital V, a lower middle-market fund focused on supporting fast-growing businesses across Europe. In addition, Bridgepoint has fully realised the original minority stake of its earlier vintage, BDC III, which first invested in the company in 2020.

Following this transaction, Brevo’s management and employees have become the company’s largest shareholder. General Atlantic and Oakley Capital join Bridgepoint as shareholders in this new round.

Brevo has undergone a significant transformation since Bridgepoint’s initial investment in 2020. Revenue and ARR have scaled rapidly – with ARR forecast to surpass €200 million in 2025, alongside double-digit EBITDA margins – underpinned by strong product innovation and expansion beyond email into CRM, marketing automation and multi-channel capabilities. Complementing this strong organic growth, Brevo has completed nine bolt-on acquisitions with Bridgepoint’s support, supporting product depth and further customer upsell.

The company now serves more than 600,000 customers across 180+ countries and continues to deliver strong unit economics, supported by a product-led growth engine and best-in-class deliverability infrastructure.

The new investment will enable Brevo to accelerate its international strategy, continue scaling in North America, invest further in large-scale AI-driven product capabilities and pursue targeted M&A to extend its platform – reinforcing the company’s ambition to build a global European leader in customer engagement and achieve €1 billion in annual revenue by 2030.

Thomas Moussallieh, Partner at Bridgepoint, added: “Brevo is a standout European software champion. Over the past five years, the business has delivered exceptional organic growth, broadened its product suite, and built a highly scalable platform serving both SMB and mid-market customers globally. We are proud to have supported this journey since 2020 and are delighted to reinvest through BDC V. The company is entering an important next phase – with significant opportunities in AI, mid-market expansion and internationalisation – and we look forward to continuing our partnership with Armand and the management team.”

Armand Thiberge, Founder & CEO of Brevo, said: “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.”

To fuel this impressive growth, Brevo has drawn on Bridgepoint’s extensive sector expertise and track record in scaling SaaS and wider technology companies in Europe and the US, including previous investments in Kyriba and LumApps.

The transaction completed in November 2025. Financial terms were not disclosed.

Brevo and its shareholders were advised by Evercore and Goldman Sachs (M&A), as well as Crosslake (Tech) and Alvarez & Marsal (Financial).

Bridgepoint was advised by Moelis & Company (Independent Financial Advisor to Bridgepoint Limited Partner Advisory Committees). In addition, BDC V was advised by Proskauer (Legal), McKinsey (Commercial), EY-Parthenon (Financial) and Clipperton Finance (financial advisor). BDC III was advised by Mayer Brown (Legal).