Retail technology venture Yoobic raises $50m in Series C

Yoobic has closed a $50 million Series C funding round led by Highland Europe.

Existing investors Felix Capital, Insight Partners, and a single family office advised by BNF Capital also participated in the round.

The company provides an app for frontline and service workers to manage tasks, communicate with eachother and management, and also go through training, development and and other e-learning tasks.

It has raised $80 million in total since inception and works with more than 300 brands across 80 countries, including Boots, Carrefour, Lancôme, Lacoste, and Puma.

Having confidence in the wrong decisions or lacking confidence in the right decisions can be disastrous.

Confidence-based learning is the answer. 🏆#frontlineworkers #confidencebasedlearning https://t.co/JDlzfErvHI
— YOOBIC (@YOOBIC) July 16, 2021

The Series C round will support Yoobic’s growth plans, including a 75% increase in headcount to bring the company’s global workforce to 350 by 2022, with a focus on bringing on tech, sales, customer success and marketing talents.

The cash will also go towards R&D efforts, particularly in data intelligence and predictive insights, and enable the venture to develop services for frontline employees in sectors such as manufacturing, warehousing, and transportation.

“We’re excited to partner with Yoobic, which, thanks to the highly impressive team, has clearly established itself as a leader in the digital workplace space with demonstrable market traction and impressive growth.” says Jean Tardy-Joubert, Partner at Highland Europe, who will be joining the Yoobic board.

“While companies have historically focused on digital investments for deskbound employees, the world is becoming distributed and decentralised. We anticipate a seismic shift that will see huge resources, technology, and capital shifted toward frontline teams.”

“Our mission is to shape the future of work for the deskless workforce,” comments Fabrice Haiat, CEO and Co-founder, Yoobic.

“They are essential to business success: they are the brand ambassadors of their organisation, and are responsible to keep or break the company mission”

“This funding will consolidate our position as a global market leader for frontline teams, helping brands to ensure all their employees feel connected, fulfilled, and valued to become the leaders of tomorrow.”