Cymbio raises $20 million for e-commerce enablement platform
Cymbio, an online marketplace and drop ship automation platform, has announced a $20 million Series B financing round led by Corner Ventures.
There was also participation from existing investors Udi Angel, Vertex Ventures, Yuval Tal (founder of Payoneer) and new investors Chris North (ex-Amazon MD) and Jeff Weiser (ex-Shopify CMO).
Cymbio has raised $27million in total (from Series A and B rounds).
The Israeli startup’s technology provides brands with the ability to manage digital channels, and supports all systems, protocols and vendors, enabling them to start selling on thousands of marketplaces and retailers.
It also automates all drop ship and marketplace operations from commercially connecting with retailers and marketplaces to integration, set up and day to day management of the complete operations between brands and retailers.
“Cymbio is laser focused on serving brands, enabling sales growth while relieving manual, error prone, and time consuming processes,” says CEO Roy Avidor.
“We are humbled and excited to work with so many trailblazing operators and visionaries, and together join our mission of creating a connected commerce world. This next stage will allow us to continue innovating and supporting brands’ growth with additional product offerings, expanding partnerships and our global footprint.”
“Cymbio’s technology stack is paving the future for brands that sell online,” comments Marvin Tien, Co-founder and General Partner at Corner Ventures.
“The company has built the infrastructure for the next generation of e-commerce, with a platform that uniquely supports brands’ growth. We are thrilled to support this truly exceptional team as it expands its global operations.”
