I’m thrilled to share that Yotpo has raised $230 million in Sequence F funding, our largest funding spherical thus far, placing us at a valuation of $1.4 billion. We’ve formally reached unicorn standing!

To say we’re grateful is an understatement. To our buyers, prospects, and our complete companion ecosystem, thanks. You assist form our route, and your steerage and assist received us to the place we’re as we speak. To our staff, Tomer and I are proud to face aspect by aspect with you. This accomplishment is not any small feat, and I’m honored that you simply select to spend your time and vitality at Yotpo, constructing the muse for the way forward for eCommerce manufacturers. Thanks.

To our manufacturers: We’ve received loads in retailer for this funding.

We’re making eCommerce advertising smarter and simpler than ever earlier than

It’s clear to us all: eCommerce is booming, and it’s going to develop much more in 2021. Everyone seems to be shopping for all the things on-line — now, each enterprise is an eCommerce enterprise.

The chance for manufacturers is unbelievable, nevertheless it’s additionally a problem. The competitors is loopy, it’s more durable than ever to face out, and types are feeling the ache day by day. Acquisition prices preserve rising, it’s tough to maintain prospects coming again, and there’s all the time an excessive amount of to juggle, too many options in your tech stack to handle, and never sufficient time.

We get it. We’re entrepreneurs, too. That’s why this funding spherical issues a lot, and never simply to us. We have now huge plans — and a product roadmap — that may simplify the issues that make your life tough, do the laborious work to your model, and make it simpler to get extra impression from each marketing campaign. 

What are we doing with this cash?

We’ll use this funding to speed up our eCommerce advertising platform. We’re deepening the synergies between our Loyalty & Referrals, SMS Advertising, Critiques, and Visible UGC merchandise, in addition to rising our many partnerships and integrations with important eCommerce applied sciences.

We’re enhancing our product synergies

We’ve been laborious at work constructing synergies between our merchandise to make life simpler for our prospects and supply experiences that go above and past what you are able to do with siloed instruments — and it’s our objective to reinforce these even additional.

In actual fact, Yotpo synergies are already offering simpler options for main buyer ache factors. For instance, as we speak, manufacturers utilizing a number of merchandise can do any of the next:

• Expose prospects to new merchandise on the channels they like. With SMS, Loyalty, and Critiques knowledge working collectively, we will inform you when it’s the suitable time to ship a message, what merchandise to advocate, and the suitable reductions to supply — giving your prospects all the things they should buy proper within the palm of their hand.
• Convey prospects again to purchase once more. Use Loyalty and SMS to re-engage prospects who haven’t bought shortly (together with those that would possibly churn quickly!). Use our built-in knowledge to personalize buy incentives, or create a way of urgency by reminding loyalty members that they’ll degree as much as a brand new VIP tier with yet one more buy.
• Gather buyer knowledge and use that to personalize all touchpoints. Manufacturers can accumulate content material and collect knowledge by way of SMS (e.g.: “What’s your pores and skin sort?”) and customise each interplay with that data, just like the reward incentives you supply or the critiques you present — rising the probability that they’ll convert.
• Reclaim extra deserted carts. Our platform is aware of precisely what critiques and visible UGC will convert these misplaced gross sales, and SMS automation helps you to set off a message so you’ll be able to reclaim over 21% extra deserted carts.
• Create simpler buyer journeys primarily based on shopping for habits. Our knowledge can present you important buyer insights, like which prospects are almost definitely to buy or churn within the subsequent 30 days, and our suggestions can inform you precisely how you can have interaction to get the best impression — whether or not that’s sending an SMS, adjusting loyalty factors, or one thing else.

 

These are just some of the built-in capabilities presently accessible. As we proceed to construct out our platform, we’ll join extra options in new and efficient methods to resolve your on a regular basis challenges. Quite than managing 5-10+ particular person advertising applied sciences, manufacturers can handle their technique from one unified platform, saving their groups beneficial effort and time.

We’re already serving to manufacturers streamline. Based in Australia in 2010, Princess Polly is among the quickest rising manufacturers within the US market — and so they use your complete Yotpo platform.

Our largest problem was having so many various advertising instruments, distributors, and applications, and none of them have been speaking to one another. Yotpo’s strategy to built-in merchandise on a single platform solved that for us.

With Yotpo, we will ship assessment requests by way of SMS, reward loyalty factors for critiques, ask five-star reviewers to make referrals, ship loyalty members tier-specific texts, and a lot extra. The Yotpo platform makes it a lot simpler to offer our prospects the very best expertise with our model — it’s introduced our eCommerce desires to life!”

— Kim Zorn, Head of Efficiency, Princess Polly

VICI is a California-based style model that’s additionally rising at a meteoric fee, and the corporate is utilizing a number of Yotpo options to speed up that development. Yotpo Critiques helps set up a baseline of belief within the model and its merchandise, Loyalty & Referrals builds on that belief and empowers glad prospects to advocate for the model, and SMS allows VICI to personally join with their engaged neighborhood — all from one built-in platform.

We are able to create extra linked and empowering experiences each step of the way in which, and have interaction our prospects a lot extra personally and successfully. We’re excited to faucet into the total potential of Yotpo’s platform.”

— Aimee Dudum Colorado, Chief Merchandising & Advertising Officer, VICI

We’ll develop our partnerships & integrations

Whereas we’ll proceed to enhance our merchandise, they’re solely as sturdy because the companions, companies, and platforms we work with all through the eCommerce ecosystem. Integrations are important to creating Yotpo simply accessible to each enterprise whereas additionally increasing our capabilities, and our partnerships permit us to make sure the success of our mutual D2C manufacturers.

With this funding, we are going to put money into deepening our alliances with present and future companions, in addition to increasing our tech stack integrations, in order that any model can companion with Yotpo seamlessly.

A platform that creates higher experiences for customers and lets manufacturers develop sooner

Finally, we’re creating these synergies so your model can supply extra to your prospects, as a result of when all of your advertising instruments discuss, your prospects can inform the distinction.

Under is only one instance of a seamless buyer expertise powered by Yotpo’s built-in platform.

By connecting our merchandise on a single platform, we’ll have the ability to present an much more cohesive strategy to the customer expertise, serving to manufacturers to drive simpler advertising campaigns and sooner development. In actual fact, manufacturers that use two or extra Yotpo merchandise develop 54% sooner than people who use just one.

Along with synergies, our complete platform will present:

• Simpler, faster implementation of each Yotpo product
• Extra highly effective and time-saving advertising campaigns for smaller groups, permitting them to work smarter, not more durable
• Assist for entrepreneurs on bigger groups which are burdened by too many instruments that don’t talk
• Unified buyer knowledge and complicated applied sciences that unlock sensible incremental income alternatives that siloed instruments simply can’t match
• Deeper integrations with the important instruments in your tech stack
• A straightforward-to-use, single sign-on, single billing, and one-stop location for efficiency dashboards and analytics

Plus, a complete lot extra. We’re excited to make use of this funding spherical to work on extra options (and merchandise) that may give manufacturers the advertising edge they should appeal to, have interaction, and retain their prospects on this eCommerce-first world.

Keep tuned for updates from us as we proceed to enhance and innovate our options and platform.

Thanks everybody. We’re so excited and humbled to share this information with you, and we’re thrilled for this subsequent chapter in Yotpo’s historical past.

— Omri and Tomer, Co-Founders

P.S. We’re hiring! If you wish to assist outline the way forward for eCommerce, examine us out. We’d like to have you ever be a part of us.