Yotpo's Series E Funding to Fuel Marketing Innovation and Help...
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Yotpo's Series E Funding to Fuel Marketing Innovation and Help eCommerce Brands Drive Revenue

By: Retail CIO Outlook | Wednesday, August 12, 2020

Yotpo’s with a vision to help businesses of every size with the best possible technology to efficiently achieve maximum growth secures 75 million dollars in series E funding.

FREMONT, CA: Yotpo, the pioneering SaaS-based eCommerce marketing platform that supports retail brands to accelerate online revenue growth, announces 75 million dollars in Series E funding. The company has raised 176 million dollars in total. Headed by Adam Fisher, Bessemer Venture Partners (BVP) is raising its investment in Yotpo in response to the company's continuous growth and performance.

Yotpo has witnessed record growth with a 300 percent increase in customers in 2019 and a 250 percent increase in annual recurring revenue (ARR) since its last raise in November 2017. The company expects to double its revenue within the coming two years. During the early months of COVID-19, Yotpo experienced an explosion of sign-ups to assist with achieving 170 percent YoY net new ARR, and record lows in customer churn. With the eCommerce sales projected by eMarketer to reach 859.28 billion dollars by 2022, brands have the best opportunity to reorient their businesses to meet the growing customer demand for digital commerce.

This round of funding will be used to innovate Yotpo's mission to develop an industry-defining eCommerce marketing platform, with an integrated product set of Reviews, Visual User Generated Content, Loyalty, Referrals, and SMS Marketing, that assists brands in accelerating growth and driving customer lifetime value.

The key to delivering these experiences is for eCommerce marketers to have a reliable, single source of truth that offers the crucial insights necessary to be competitive in today's retail environment. Yotpo's integrated, multi-solution platform offers marketers with unified customer content, cross-product behavior data, deeper audience segmentation, and predictive analytics.

Yotpo's growth and success are deeply tied to how the company helps its customers achieve growth and success. That's why this funding round will also be used toward enhancing customer support and expanding product education and resources to make it easy and time-efficient for brands to use Yotpo's platform. The funding series consisted of participation from existing investors like Bessemer Venture Partners, Access Industries, and Vertex Ventures, among others. The new investor in this funding was Hanaco.

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