Nowadays almost every company needs an online store. Needless to say, ecommerce is huge and the sales’ migration to digital is inexorable.
Ecommerce platforms such as Shopify and WooCommerce (an open source solution, owned by Automattic, a Fabrica Ventures Fund I portfolio company) made this transition possible. These e-commerce platforms offer a professional online storefront, a payment solution to accept credit cards, and a point-of-sale system to power online sales.
Great, but not enough. Small and medium size online retailers also wished to be able to offer an Amazon-like e-commerce journey.
Then comes Yotpo. All of a sudden, any online retailer can easily provide the same bells and whistles of Amazon’s sales and customer experience.
Yotpo provides all of a brand’s ecommerce marketing needs in a single, integrated platform. To name a few: AI enabled customer content collection and display, custom-tailored loyalty and referral programs, subscription offerings, personalized emails, and showcasing of customer photos and videos across the buyer journey.
And, importantly, Yotpo is fully integrated with the main ecommerce platforms (Shopify is Yotpo main sales channel) and with more than 500 apps / systems (TikTok, Facebook, Instagram, etc).
Founded in 2011 in Israel (now with headquarters in NY), it raised $326M in equity from Bessemer Venture Partners (the leading investor), top Israeli VCs and Shopify.
A Forbes Cloud 100 startup for 5 years in a row, with 35,000+ customers (mostly SMBs, but including Allbirds, Everlast, Muji, Chubbies and GoPro), Yotpo should reach revenues of $170M in 2023.
“We have always believed that e-commerce would become the dominant form of shopping … The ecommerce arena is the most important place to be. Everyone is selling everything online now, from entrepreneurs setting up shop in their basement to some of the largest brands in the world. But this also means it’s only going to get more difficult, expensive, and inefficient to market to customers. … By integrating our products and consolidating customer data into one ecommerce marketing platform, brands will get to know their customers on a deeper level, give them edgy, VIP experiences every time, and get a higher ROI for their marketing efforts” — Tomer Tagrin, Yotpo’s CEO, Co-founder.
Yotpo is now the leading provider of solutions that power the whole ecommerce customer journey, including reviews, loyalty and referrals, email and SMS marketing, subscriptions and visual user-generated content.
And now it has become a Fabrica Ventures Fund II portfolio company.