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's activity report 2022

Pipedrive is a software company that deals with the development, marketing, sales and customer support of the Pipedrive software.

At the beginning of 2022, Pipedrive exceeded the 100,000 customer limit at the group level for the first time. The main markets were the United States, the United Kingdom, Brazil, Germany, France and Australia.

In 2022, Pipedrive continued its development and international growth and expansion. In 2022, changes were made in the company's pricing methodology and Pipedrive's sales revenue is reflected in the software sales mediated to other group companies. In 2022, Pipedrive's sales revenue grew by 34% compared to 2021, excluding sales mediated to other group companies. Total sales revenue reached 160422142 euros in 2022 (83777429 euros in 2021).

The loss in 2022 was 6720510 euros (the profit in 2021 was 2424694 euros), which was partly due to increased investments in product development and marketing to increase the customer base and retain existing customers to achieve the company's long-term goals. The company's results were also affected by the unfavorable economic environment and changes in exchange rates. In connection with high inflation in Estonia, the company paid a one-time support payment to employees in 2022.

As of the end of 2022, Pipedrive had 472 employees (523 employees in 2021). Due to the cooling of the global economic environment and a new approach to meeting customer needs, Pipedrive updated its business and product strategy at the group level at the end of 2022. In connection with this, the company changed its product development priorities, investing less in those products that did not bring the expected revenue. As a result, the company was forced to lay off 79 jobs in Estonia in November. This step did not affect Pipedrive's customers and the availability and use of the service.

As of the end of the reporting period, Pipedrive had 3 board members. In 2022, several important changes took place in the Pipedrive group management to bring the necessary knowledge and experience for global scaling into the company. The company was joined by a new product development manager CPO, marketing manager CMO and HR manager CPCO. The baton was taken over from the long-term technology manager Sergei Anikin by Agur Jõgi CTO. At the end of the year, the customer experience manager CCO left the management, whose duties were divided among the existing board members. In addition, Pipedrive strengthened security, supervision, marketing and sales areas with the addition of critical roles.

Even more customer-centric product strategy

Since its establishment, Pipedrive has used a customer-centric product development strategy. In 2022, the company introduced an internal team program called 'Customer Voice', which allows to systematically collect and analyze customer feedback, needs and expectations and integrate them quickly into product development plans if possible.

In 2022, product development expanded Pipedrive's software usage possibilities in all sales-related areas and in the second half of the year, the company set a priority for vertical product development to make the main area - sales management software - even more efficient and user-friendly.

The product's customer communication functionality was improved by developing integrations with strategic