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Yotpo's User-generated Approach To Content Marketing Nets $51M In Latest Funding Round

Yotpo's User-generated Approach To Content Marketing Nets $51M In Latest Funding Round

Yotpo, the leading user-generated content marketing platform, announced today the completion of a $51 million round of financing led by Access Industries (ClalTech), bringing total funding to $101 million. The company also announced it has quadrupled revenues over the past 20 months.

Yotpo is a trailblazer in the eCommerce industry, helping brands market with customer content, like reviews, photos, and Q&A.

Yotpo CEO and Co-founder Tomer Tagrin explains that building an authentic brand that people care about and talk about is the only way to thrive in a post-Amazon retail reality. “The future will not be brands marketing for customers, but customers marketing for brands,” he says.

Yotpo works with thousands of brands worldwide, from emerging startups to established enterprises, like TYR, Staples, and Everlast, as well as digitally native, vertical commerce brands like MVMT Watches, UnTUCKit, and Brooklinen. Their focus on customer content as the foundation for powerful consumer experiences has helped these brands become customer favorites.

According to Tagrin, the massive growth recently seen by these digitally native, or vCommerce, brands can be traced back to a dedication to customer experience and satisfaction that creates genuine affinity for the brand.

"Today, we're seeing more and more often that super fast-growing brands -- the Leesas, UnTUCKits, and Chubbies of the world -- are starting by doing one thing really, really well. Whether it's selling lingerie or luggage, these brands start out by dominating a single industry and building a fan base of customers that really love their brand,” he says.

With the new financing round, Yotpo plans to continue investing in AI and machine learning technologies and  to continue global expansion, with the opening of a second US office in Salt Lake and the addition of 150 employees, to bring total headcount to over 400, across their Tel Aviv, New York, and London offices.

The financing round included full participation from existing investors Bessemer Venture Partners, Marker LLC, Vintage Partners, Blumberg Capital, Rhodium and 2B Angels. Vertex Ventures joined the round as a new investor. Daniel Shinar, Access Industries' Head of Israeli tech investments and ClalTech CEO, will join Yotpo's Board of Directors.

“We’ve been working with Yotpo since 2014. We have gained enormous respect for what co-founders Tomer Tagrin and Omri Cohen have built – a company with a unique culture and exceptional execution skills.  When we had the opportunity to double down, we didn’t hesitate,” Shinar says. “Yotpo is answering the growing demand for an integrated user-generated content platform and they are becoming the next generation marketing platform for B2C companies.”

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: marketacrossFintech Financing Startups


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