TARK advises Outfunnel on its acquisition by Pipedrive

TARK advised Estonian startup Outfunnel on its acquisition by Pipedrive, the Estonian-founded CRM and sales management software company serving small and medium-sized businesses.

The transaction brings Outfunnel’s technology and five-person team into Pipedrive. Outfunnel’s technology will be integrated into Pipedrive’s product, bringing sales and marketing data together in one place.

“A CRM that doesn’t connect with your marketing tools is only solving half the problem,” said Pipedrive CEO Paulo Cunha. “Outfunnel had already solved the harder part. By bringing it into Pipedrive, we’re making connected sales and marketing a natural part of our core product.”

Founded in 2018 by Andrus Purde, Markus Leming and Andris Reinman, Outfunnel was built around a simple but persistent problem: sales and marketing teams often work with different tools, leaving customer data scattered across systems. Outfunnel automatically synchronises sales and marketing data, allowing teams to work from the same information instead of spending time moving data between platforms. Its solution is used by more than 500 companies.

The deal also brings Purde back to Pipedrive, where he previously served as the company’s first head of marketing. He will join Pipedrive as a consultant and support the integration of Outfunnel’s technology.

“An exit is a natural and often anticipated stage in a startup’s journey,” Purde said. “In my case, it came through a revolving door” – his brother, Urmas Purde, was one of Pipedrive’s five co-founders.

Founded in 2010, Pipedrive has grown from an Estonian startup into a global sales management software company. Its solutions are now used by more than 100,000 companies in over 180 countries. Pipedrive was founded by Timo Rein, Urmas Purde, Ragnar Sass, Martin Henk and Martin Tajur. Its majority investor is Vista Equity Partners, with Bessemer Venture Partners, Insight Partners, Atomico and DTCP among its other investors.

TARK advised Outfunnel from the early stages of the transaction through to closing. Our work included legal due diligence, transaction structuring, and drafting and negotiating the transaction documents. We also coordinated communication between the parties and advised on employment law and other legal matters arising in connection with the transaction.

The TARK team was led by partner Hannes Küün. and included partners Tanel Küün and Marit Savi, and lawyer Tarvi Salu.

We are grateful to Outfunnel for the trust they placed in us and wish the team and Pipedrive all the best as they take this next step together.