Infobip, a cloud communications startup which - like Twillio - handles things like SMS, email, voice and WhatsApp messenger for customer engagement, has completed its acquisition of VoIP provider Peerless Network. Although the deal was announced last November, TechCrunch can exclusively reveal that it was worth north of $200 million.
Last year Infobip raised $500M through a venture debt deal which valued the company at around $10 billion, it is claimed by some observers, although the company has not commented on its valuation. Infobip had reportedly raised $200m from One Equity Partners in 2020 and another $100m after that.
Based out of Vodnjan, Croatia and Seattle, USA, Infobip received federal and state-level regulatory approvals for the acquisition, which will now bolster its presence in the U.S. and enable it to expand its voice offering worldwide
Its clients will now also be able to access the U.S. market via Peerless Network, whose nationwide voice network covers 98% of Americans across 49 states.
Vice versa, Infobip now offers Peerless Network’s client’s access to its communications platform-as-a-service (CPaaS) platform.
In a statement Silvio Kutić, CEO of Infobip (pictured) said: “Cementing Infobip’s presence in the U.S. with this deal is a significant milestone. It confirms our global growth strategy to better help businesses reach their customers on the right channel at the right time to boost reliability and drive sales.”
Combined, the two businesses process more than 30 billion monthly customer interactions, in more than 190 countries.
The completion of the acquisition follows Infobip’s acquisitions of U.S. messaging platform OpenMarket, SMS firewall provider, Anam, the developer Shift Conference franchise and Southern European tech publication Netokracija, and the team behind it.
Although it’s unlikely you’ve heard of it very much, but Infobip is on a pathway to becoming “Croatia’s UIPath”. In other words, a unicorn startup in South Central Europe, and from a country that was formerly a part of the now defunct Yugoslavia, a communist country.
Infobip provides messaging for Facebook and Uber, as well as for 750 banks and 650 mobile operators. The company estimates around 5 billion people have used an Infobip service
An IPO is on the mid-term horizon, but meanwhile, competitors include Twilio and Sinch in Sweden.
Former electrical engineer Kutic started the company after several failed startups and based it out of his home town Vodnjan, where it has built its own campus. Some 10% of Infobip shares are owned by the staff.