This post is by Anthony Ha from Fundings & Exits – TechCrunch
Barely more than seven months after its most recent funding announcement, Yotpo is revealing that it has raised another $230 million in a Series F round that values the company at $1.4 billion (post-money).
“Our round, in my eyes, it’s all about celebrating the future of e-commerce,” co-founder and CEO Tomer Tagrin told me. “Brands don’t need to worry about connecting the marketing stack anymore.”
Where success in traditional retail has been determined by “location, location, location,” Tagrin said e-commerce is “all about consumer attention.” To capture that attention, he estimated the average brand is using 10 to 14 different marketing applications, creating a “pretty horrible experience.” So Yotpo — founded in 2011 and headquartered in New York City — aims to provide all of a brand’s e-commerce marketing needs in a single, integrated platform.
To illustrate this, Tagrin described a marketer wanting to create a customized offer just for users who had both purchased a product in the past 90 days and left a five-star review. Yotpo allows them to do that with “just the click of a button,” whereas “that experience was just not feasible before Yotpo,” he said.
The platform currently consists of four main products — Yotpo SMS Marketing, Yotpo Loyalty & Referrals, Yotpo Reviews and Yotpo Visual UGC — which integrate with each other, as well as with e-commerce platforms such as Shopify, Salesforce Commerce Cloud, Adobe-owned Magento and BigCommerce.
Tagrin said Yotpo still had money leftover from the last round but it (Read more...)