Yotpo Raises $ 230 Million to Provide Its Ecommerce Marketing Platform, Giving Brands Maximum Marketing Power in an Ecommerce-Driven World

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NEW YORK, March 18, 2021 / PRNewswire / – Yotpo today announced that it has lifted $ 230 million in Series F funding. With its biggest round of investment to date, Yotpo aims to lay the foundation for its all-in-one e-commerce marketing platform, designed to give brands unmatched capability to stand out and retain customers in the hyper-competitive world of e-commerce.

“We always thought that e-commerce would become the dominant form of shopping, but 2020 has been an incredible acceleration. The e-commerce arena is the most important place. Everyone sells everything online now, from entrepreneurs to are moving into their basement at some of the biggest brands in the world. But that also means it’s going to become increasingly difficult, expensive and inefficient to market to customers, “said Tomer Tagrin, CEO and Co-Founder, Yotpo.

It’s time for an evolved e-commerce experience
“In addition to having to find creative ways to stand out in a competitive and noisy space, e-commerce teams get bogged down in managing so many point-of-marketing solutions,” says Tagrin. “These solutions, with siled customer data, force marketers to work harder and certainly not smarter. As a result, experiences lag and their customers drift away.”

Tagrin continues, “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 achieve a higher return on investment for their marketing efforts. Thanks to the incredible support of our investors and the passionate efforts of the Yotpo team, the full release of our multi-product and synergistic platform is fast approaching. “

Greater than the sum of its parts – Imagine what the Yotpo platform will do
With the latest fundraiser, Yotpo plans to double its product and R&D team to accelerate the rollout of its full platform experience, doing the behind-the-scenes work of connecting its products – which to date include Yotpo SMS Marketing, Yotpo loyalty & Sponsorships, Yotpo Reviews, and Yotpo Visual UGC. This suite of connected solutions unlocks unified customer data that will allow brands to get the most out of every campaign and maximize their return on investment.

Founded in Australia in 2010, Princess polly is one of the fastest growing brands in the US market serving women between the ages of 16 and 25. The brand uses the entire suite of Yotpo platforms. “Our biggest challenge was having so many different marketing tools, vendors, and programs, and none of them were talking to each other. Yotpo’s approach to integrated products on a single platform solved this problem for us, ”said Kim zorn, Performance manager, Princess polly. “With Yotpo, we can send SMS review requests, reward loyalty points for reviews, ask 5-star reviewers for referrals, send specific texts to loyalty members, and much more. Yotpo platform makes giving a lot easier. Our customers have the absolute best experience with our brand – it has brought our e-commerce dreams to life! “

VICI is a CaliforniaA fashion brand based on growth at a lightning pace, and the cult favorite is also using several Yotpo solutions to accelerate that growth. “We can create more connected and empowering experiences every step of the way, and engage our customers in a much more personal and effective way. We are excited to harness the full potential of the Yotpo platform,” said Aimée Dudum Colorado, Head of Marketing and Marketing, VICI.

The product synergies on the Yotpo platform show the power of using deeply integrated marketing tools to drive more impact. Brands that use two or more Yotpo products have grown 54% faster than those that use only one.

Promotion, Participation & Partners
The last round of investment places the valuation of Yotpo at $ 1.4 billion, in part thanks to the strong performance of the company and its steady growth. Yotpo crossed the $ 100 million annual recurring revenue threshold (ARR) after seeing a massive acceleration in most trade measures. This is due to the demand for our products, in particular Yotpo Loyalty, which almost doubled last year, and Yotpo SMS Marketing, which increased by 170%. Yotpo now serves over 30,000 customers who represent the best in e-commerce, including Patagonia, Revolution Beauty, Brooklinen, Steve madden and Princess polly.

Led by Bessemer Venture Partners and Tiger Global, the round table saw the participation of existing investors Claltech Investment, Coin Ventures, Hanaco, Vertex Ventures, Vintage Investment Partners, among others.

Tiger Global has long been bullish on e-commerce as the future of retail, having invested in disruptive brands like Warby parker and Peloton, giants like JD.com and leading SaaS companies like Stripe and Twilio. We are excited about Yotpo’s approach to delivering a unified marketing technology stack and the value it brings to brands and online shoppers in the process, ”said Jean Curtius, partner at Tiger Global.

To provide brands with world-class support, strategy and empowerment, Yotpo has partnered with more than 500 leading agencies, platforms and technologies that power e-commerce stores. Yotpo will invest in deepening alliances with current and future partners, as well as expanding technology stack integrations, so that any brand can connect to Yotpo easily and seamlessly. The number of technology integrations with Yotpo products increased by 40% year over year in 2020.

“Over the past twelve months, we’ve seen impressive growth from companies that were smartly positioned in e-commerce. Yotpo is no different and belongs to the biggest players in the space – Shopify, Affirm, BigCommerce, “said Adam fisher, Partner at Bessemer. “As a long-time investor, it’s great to see Yotpo’s big bets pay off, and the success that so many brands have experienced using Yotpo’s growing suite of solutions.”

About Yotpo
Yotpo, the leading ecommerce marketing platform, helps forward-thinking brands like Patagonia, Steve madden, Frank Corps, Helly Hansen, Brooklinen and GoPro accelerate direct-to-consumer growth. Yotpo’s single platform approach integrates data-driven solutions for loyalty, SMS marketing, reviews, and more. Yotpo integrates with the tools used daily by online businesses, including Google and Instagram, and is available on all major ecommerce platforms including Shopify, Salesforce Commerce Cloud, Magento (An Adobe Company), and BigCommerce. Yotpo is a Forbes Cloud 100 company with offices around the world including new York, London, Israel, and Bulgaria. Yotpo is recruiting! Visit yotpo.com/jobs.

Contact: [email protected]

SOURCE Yotpo

Related links

http://www.yotpo.com


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