November 07, 2017 | Shares:

Thank you is not enough: Yotpo’s latest funding round

We are super happy to announce our most recent $51 million financing round. 

This is a moment for Yotpo employees, customers, partners, and investors to celebrate and be truly proud of what we have accomplished together.

A few weeks ago, Omer Cnaani, Senior VP Product & Marketing (employee number 6), told me it feels like everything we did so far is just warming up and now it is really game time. I could not agree more.

One of our company mantras is, “Prepare for the marathon, but train for the sprint.” For a long time we’ve been training, but now is when the marathon begins.

When you look at what’s happened over the last few years — opening four international offices and growing to nearly 300 employees, to expanding our partnerships and integrations and adding brands like Chubbies, UnTUCKit, and Brooklinen to the thousands of businesses we serve — it’s astonishing.

But what is even more exciting to me is our future. It feels like we just built the first piece in a big puzzle.

When we founded the company, we knew that helping companies build exceptional brands using authenticity, trust and an experience that consumers care about is important, but we did not know the magnitude of that.

In today’s world, the ability to build a brand that consumers care about and talk about is more important than anything else. It is more important than price, more important than product, more important than anything else.

Commerce has probably faced more disruption than any other industry.

From Amazon and Alibaba to the millions of companies that sell to consumers online, commerce is undergoing insane change and unreal growth.

With it comes new challenges, and Yotpo is excited and grateful to be here at the right moment to help companies tackle the challenge of building a brand that matters in today’s day and age.

Value creation is a long-term play. Today is an important milestone in our journey, but we have a long way ahead of us.

We will continue to be laser-focused on our customers, on how technology and products can help companies grow and build great brands, on growing efficiently and evolving our culture so we can build one of history’s greatest companies.

We are excited by what’s ahead, and this funding will guarantee we will continue to lead the way in product innovation, service and new experiences for our customers worldwide.

Winning is a team sport

There are too many people to thank for everything that is happening inside Yotpo. Like always, our way is to do things together. I could not think of a better group of people I would want to work on this with than the team we have at Yotpo.

The pace of change we are making in the commerce industry is second only to the pace of change our company is experiencing.

Being part of a hyper-growth company isn’t always easy, and I am so proud of everyone who is adapting and still thriving at this crazy pace.

One great example is our incredible R&D team, who continuously releases more and more products, from our suite of visual marketing tools to analytics and upcoming releases that our beta customers are already super excited about.

Not only that, but they’re constantly innovating our existing products. Their endless push to improve has helped us more than quadruple our revenues over the last 20 months.

One of the things we’re most looking forward to with this funding round is expanding the Yotpo family to reach a team of 400 of the most dedicated team players out there.

Success is not an excuse for slowing down

I remember when we were first starting out and one of the most respected people in the Israeli tech scene told me, “This will never work as a SaaS model, the market isn’t big enough.”

Looking back now, I realize they were right.

Yotpo started as a search engine for opinions but pivoted to become a Shopify app for review generation. This led us to develop our first signature feature, the in-mail review request.

The Mail After Purchase put us on the path to success. We were gaining users, partnering with Google and Facebook, and expanding our features — but we were missing the big picture.

That could’ve been it.

We could’ve put everything we had into making the best reviews app out there.

But that would’ve blinded us from seeing bigger opportunities.

It would have kept us from getting where we are today.

It would have never worked.

By paying attention to changing market dynamics, we gained a new worldview and went to work creating the most innovative, comprehensive solution for user-generated content marketing.

It taught us our most important lesson yet: Do not stay comfortable. Success is not an excuse for slowing down.

Now, as we look to the future, we are excited to continue not slowing down. We will continue to innovate, to use the latest AI and machine learning technologies, and continue to challenge ourselves to make our platform even better.

This is the only way to continue to meet the demands of the fastest-growing brands in the post-Amazon world, and to change the face of eCommerce.

Thank you is not enough

On a personal note, I want to say thank you to everyone who has been with us on this journey.

Thank you to our customers that partner with us day in and day out.
Thank you to our team, who continues to bring everything they have every day.
Thank you to our investors who believe in us and are with us on this journey.

Tomer Tagrin
Tomer Tagrin, CEO and Co-founder of Yotpo
When Tomer's not geeking out over data or eating oranges in the middle of meetings, he's with his ferocious guard dog, Vamos, and beautiful wife, Adi.
  • Congrats 💪

    • Aimee

      Thank you!

  • Matan Marom

    Great job guys! 😁💰

  • Cora Harrell

    “Totaly Awesome!”

  • Excited to see what you guys do!

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