Ecommerce Marketing Startup Yotpo Raises $ 230 Million, Reaches $ 1.4 Billion Valuation

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Yotpo, an Israeli startup that enables businesses to generate reviews and content online, said Thursday it had raised $ 230 million in Series F funding, its biggest round of investment to date.

The latest fundraiser puts Yotpo’s valuation at $ 1.4 billion, the company said. The startup has crossed the $ 100 million annual recurring revenue (ARR) threshold as demand for the company’s software product line has grown. Yotpo serves over 30,000 e-commerce customers.

The Tel Aviv-based company helps brands create customer content by sending messages to users via email and SMS to get their opinions on a product they’ve purchased. It adds marketing features like coupons and allows customers to upload photos of themselves with the new product they have acquired.

Led by Bessemer Venture Partners and Tiger Global, the funding round saw the participation of existing investors including Claltech Investment, Coin Ventures, Hanaco, Vertex Ventures, Vintage Investment Partners, the statement said.

The money raised will allow Yotpo to develop and expand the reach of its e-commerce marketing platform that helps empower brands, including Patagonia, Steve Madden, Princess Polly, Helly Hansen, Brooklinen and GoPro, the ability to stand out and retain customers in the competitive world of online acquisitions, the company said in a statement.

“We have always believed that e-commerce would become the dominant form of shopping, but 2020 has been an incredible acceleration. The most important place is the e-commerce arena. Everyone sells everything online now, from entrepreneurs setting up shop in their basement to some of the biggest brands in the world. But it also means that it will become increasingly difficult, expensive and inefficient to market to customers, ”said Tomer Tagrin, CEO and co-founder of Yotpo, in the statement.

This has made it important for marketers to find more creative ways to stand out in the competitive and noisy space, he said.

“By integrating our products and consolidating customer data into an e-commerce marketing platform, brands will get to know their customers on a deeper level, provide them with dynamic VIP experiences every time and get feedback. higher investment (ROI) for their marketing efforts. “said Tagrin.

With the latest funds, Yotpo plans to double its product and R&D team to accelerate the deployment of its full platform of products that will be connected to each other to provide unified customer data.

Yotpo integrates with the tools used daily by online businesses, including Google and Instagram, and is available on all major e-commerce platforms, including Shopify, Salesforce Commerce Cloud, Magento (an Adobe company), and BigCommerce.

The firm has offices around the world, including New York, London, Israel and Bulgaria.

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