The eCommerce platform Yotpo is a leading SaaS-based marketing cloud that is helping retail brands to speed up online revenue growth. The platform has announced that it received a series E funding of $75 million. It was not the first time company has received such huge funding for its cloud platform.
With this series E funding, the company has raised a total of $176 million. The funding is led by Adam Fisher, Bessemer Venture Partners (BVP) is rising its investment in Yotpo in reaction to the company’s reliable growth and well-built performance.
Adam Fisher, a Partner at Bessemer Venture Partners said that -“Since our first investment more than three years ago, Tomer and Omri have executed flawlessly, expanding the product suite, serving a wider range of customers, and continually hiring strong talent across the organization” and “Yotpo is singularly focused on helping direct-to-consumer eCommerce brands solve the dual challenge of engaging consumers and increasing revenue, and with their multi-product strategy and innovative edge, they are uniquely positioned to dominate the eCommerce industry for years to come” he added further.
Yotpo is a “Marketing cloud” that has become very popular with time due to its growth. The cloud platform has become a more popular idea on the planet of marketing technology. The platform is used by various cloud platforms to describe their digital toolsets for businesses to recognize and unite with customers. This startup that has gained huge recognition in a very short time aimed especially at e-commerce companies is announcing some financial support after seeing a rush of business in the previous few months.
The cloud Yotpo provides its users with a suite of tools to help direct-to-consumer, and other e-commerce players put up better associations with customers, is going to use this funding amount to grow its suite of products. This step helps the startup platform to gain more customers and build out more incorporation partnerships. The funding included several Yotpo’s active investors, namely Access industries, Bessemer Venture Partners, Vertex Ventures, and new investor Hanaco among others.
“Yotpo’s growth and success are deeply tied to how we helped our customers achieve growth and success,” said Omri Cohen, Co-founder, and COO of Yotpo. “That’s why this funding round will also be used toward enhancing global customer support and expanding product education and resources to make it easy and time-efficient for brands to use our platform.”
The company has a strategic partnership with more than 500 companies and help them to manage their customers end to end. This platform is a one-stop solution for all your problems. Yotpo offers a range of services from SMS to visual marketing that is used by a variety of e-commerce companies. The freemium platform has over 9,000 customers paying for services, and the growth is growing at a fast speed as more and more customers are using this platform. The Cloud platform has witnessed 250% in the last year, and the rate of acceleration over the last few months is growing.