Israeli startup Yotpo raises $75M

As reported by Globes, the Saas-based eCommerce marketing platform Yotpo has raised $75 million in a Series E funding round, pushing its valuation to «nearly $1 billion», according to the co-founder and COO Omri Cohen. The round was led by Adam Fisher with the participation of existing investors Bessemer Venture Partners, Access Industries, Vertex Ventures and the new one Hanaco.  

Yotpo offers a full suite of data-driven solutions for customer reviews, visual marketing, loyalty, referrals and SMS marketing that are aimed to help retail brands accelerate direct-to-consumer growth. 

Rebecca Minkoff, MVMT, Bob’s Discount Furniture and Steve Madden are among the company’s customers and the number of them is growing rapidly. During the early months of COVID-19, Yotpo has seen 170% year-on-year jump in new customers, emphasizes the company.

“In the COVID era, every business is an eCommerce business. Our vision is to equip businesses of every size, across every industry, with the best possible technology to efficiently achieve maximum growth. To that end we are building a single, fully integrated platform that empowers businesses to create exceptional, customer-first commerce experiences,” co-founder and CEO of Yotpo Tomer Tagrin said.

The startup is now planning to spend attracted capital for expanding its products portfolio and acquiring more customers.