Yieldify, a marketing technology startup, closes $11.5M in Series A financing led by Google Ventures and SoftBank Capital
Yieldify, a marketing technology startup that enables brands to lift on-site revenue by increasing conversion rates, today announced that it has closed $11.5 Million in Series A financing led by Google Ventures and SoftBank Capital. With the investment, Yieldify will continue to build out its predictive marketing technology, giving online marketers new methods of easily converting visitors. Yieldify also plans to rapidly expand its global presence, and reinforce existing teams in London, New York, Berlin and Sydney with new hires.
Ecommerce continues to be one of the fastest growing global industries, with the retail market alone predicted to reach $28.3 trillion by 2018. Yieldify empowers digital marketers to adapt and predict to visitors’ intent across all devices, giving brands the speed and agility to create personalized campaigns without complex integrations with yet another cloud platform.
“Conversion optimization over the past ten years had begun to stagnate,” explains Jay Radia, CEO of Yieldify. “If you take an honest look at the legacy optimization tools, most of them are simply ‘following the follower.’ We believe that marketers are looking for a simpler way to achieve top-line growth from day one. What they are not looking for is yet another live-in platform to train their team on.”
Launched just under two years ago in London by entrepreneurial brothers, Jay and Meelan Radia, the company has experienced extraordinary growth in a short amount of time. Yieldify has expanded to over 120 employees worldwide to-date and now works with more than 1,000 global brands, including Marks and Spencer, French Connection, Steiner Sports and Monarch.
Yieldify’s significant success, with annual revenues growing by 480% year on year from April 2014, and funding from Google Ventures and SoftBank Capital indicates the growing priority of ecommerce technology within the digital marketing sector.
“Traditional customer abandonment solutions still haven’t cracked the code to retaining and converting online visitors on the web and mobile,” said Avid Larizadeh Duggan, general partner at Google Ventures. “Yieldify takes a novel approach to converting visitors into customers, enabling marketers to adapt and better understand online customer intent.”
“By anticipating individual consumer journeys, Yieldify has proven its ability to increase conversions and generate revenue, across any channel,” said Joe Medved, partner at SoftBank Capital. “In doing so they bring incredible value for consumer marketers and, as we see companies increasingly prioritizing new strategies for conversion optimization, the value Yieldify will add is exponential.”
Yieldify believes that marketers want to convert visitors, easily. Built for speed and agility, Yieldify’s predictive marketing technology and fully managed service work together to help marketers convert their most valuable shoppers. The unique technology reacts to customers’ on-site behavior triggering a personalized campaign to reduce abandonment and increase conversions. The campaigns are generated to match a customer’s specific behaviour, not just their assigned segmentation.
Yieldify is used by over 1,000 brands worldwide to increase conversions without the complexity. Founded by brothers Jay and Meelan Radia in June 2013, Yieldify drives incremental revenue for some of the world’s most innovative brands including Marks and Spencer, French Connection, Steiner Sports and Monarch. Yieldify is headquartered in London, UK with offices in New York, Berlin and Sydney.
Source: Yieldify Press Release