Yotpo raises $75m as coronavirus propels customers online

SaaS-based e-commerce marketing platform provider Yotpo has raised $75 million in funding.

It will use the money to continue growing its suite of products, as well as to acquire more customers and build out more integration partnerships.

The Series E included a number of existing investors, namely Bessemer Venture Partners (BVP), Access industries and Vertex Ventures and new investor Hanaco (which focuses on Israeli startups — Yotpo is co-headquartered in Tel Aviv and New York), as well as other unnamed ventures.

It brings the total raised by the startup to $176 million. "In the Covid era, every business is an e-commerce business," says Tomer Tagrin, Co-founder and CEO, Yotpo.

"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."

"Since our first investment more than three years ago, Tomer and Omri (Cohen, Co-founder and COO) have executed flawlessly, expanding the product suite, serving a wider range of customers, and continually hiring strong talent across the organisation," says Adam Fisher, a Partner at BVP.

"Yotpo is singularly focused on helping direct-to-consumer e-commerce 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 e-commerce industry for years to come."