Canadian company Redbrick announced today that it has acquired Leadpages, one of the most well-funded SaaS companies in Minnesota. Terms of the deal were not disclosed.
Leadpages will now operate under the Redbrick portfolio, but it will keep its branding and the 40-person team will continue to operate out of Minnesota. Founded in 2012, Leadpages offers a website-building platform that helps digital marketers connect with audiences, generate leads and close sales.
"The Leadpages team looks forward to this new phase of growth under the Redbrick portfolio, and we will work alongside them to guide our team and loyal customers through this transition," Jason Heath, Leadpages general manager, said in a statement.
Redbrick is the parent organization for a portfolio of digital companies. The Victoria, B.C.-based company said that with the acquisition of Leadpages, it expects to bring in $80 million Canadian in revenue this year.
Prior to its acquisition, Leadpages had raised around $38 million from investors. The company closed its Series A round at $11 million in 2014 and followed on with a $27 million Series B the following year. Leadpages says that its platform currently has more than 40,000 users and brings in an annual revenue of $18 million.
In 2016, Leadpages made its first and only acquisition when it scooped up digital marketing company Drip for an undisclosed amount. Within three years, Drip grew its headcount from 30 to 100 and reached $10 million in annual revenue.
Drip is not included in Leadpages' acquisition. It will remain part of Avenue 81 Inc., Leadpages' former parent company.
"We're truly excited to see Leadpages enter into a new chapter of business growth with Redbrick," Avenue 81 CEO John Tedesco said in a release. "Over the years, our two operating companies, Leadpages and Drip have diverged to serve distinct audiences with unique offerings. With Leadpages' acquisition, I look forward to furthering Drip's growth in the e-commerce space and to witnessing Leadpages evolution under Redbrick."
