Israeli Marketing Platform Yotpo Raises $51M
November 8, 2017 | Israel’s reviews and user-generated content marketing platform Yotpo has raised $51 million. The round was led by ClalTech, the Israeli investment arm of American holding company Access Industries. Daniel Shinar, CEO of ClalTech, will join Yotpo’s Board of Directors. The funding included new investors Vertex Fund and the contribution of existing investors like Bessemer, Marker LLC, Vintage, Blumberg Capital, Rhodium, and 2B-Angels . To date, the Tel Aviv-based marketing platform has raised $101 million with the current funding included. The company plans to use the funds to develop the platform and continue their global expansion including the establishment of a second office in the US and recruit 150 additional employees to its current offices in New York, Tel Aviv, and London. They also plan to upgrade the company’s technology and add new features. Yotpo reported that its revenues have quadrupled in the last 20 months. Yotpo uses its marketing platform to help online businesses grow their companies through reviews and other user-generated content that boosts sales and creates “social proof,” so consumers can see that the brand is popular among other consumers. The company was founded by Omri Cohen and Tomer Tagrin in 2011.