Cymbio Raises $20M Series B to Help Brands Navigate the New Era of Commerce
Seven months out from Series A, we’ve tripled our business and customer base!
Today, we’re proud to announce our Series B funding round of $20 million, led by Corner Ventures, with additional participation from existing investors Udi Angel, Vertex Ventures, Yuval Tal (founder of Payoneer) and new investors Chris North (ex-Amazon MD) and Jeff Weiser (ex-Shopify CMO).
A New Era of Commerce
As drop ship programs and marketplaces expand in all categories, a new era of commerce has emerged that allows brands to sell directly through retailers, affording them the ability to reach a larger number of customers in nearly any corner of the globe. However, in order to reach those customers, they must quickly connect and scale new sales channels, presenting them with significant commercial, technical and operational challenges.
Overcome the Challenges
Cymbio was built to help brands overcome these challenges, efficiently connecting them with any retailer and marketplace. The company’s technology provides brands with the ability to manage digital channels, and supports all systems, protocols and vendors, enabling them to start selling on thousands of marketplaces and retailers. Additionally, Cymbio’s technology automates all drop ship and marketplace operations from commercially connecting with retailers and marketplaces to integration, set-up and day-to-day management of the complete operations between brands and retailers.
A Connected Commerce World
“Cymbio is laser-focused on serving brands, enabling sales growth while relieving manual, error-prone, and time-consuming processes,” said CEO Roy Avidor, who co-founded the company along with Mor Lavi and Gilad Zirkel. “We are humbled and excited to work with so many trailblazing operators and visionaries, and together join our mission of creating a connected commerce world. This next stage will allow us to continue innovating and supporting brands’ growth with additional product offerings, expanding partnerships and our global footprint.”
Next Generation of eCommerce
“Cymbio’s technology stack is paving the future for brands that sell online,” said Marvin Tien, Co-founder & General Partner at Corner Ventures. “The company has built the infrastructure for the next generation of eCommerce, with a platform that uniquely supports brands’ growth. We are thrilled to support this truly exceptional team as it expands its global operations.”
WRAP UP
The new funding propels us forward to continue innovating and supporting brands’ growth with additional product offerings. We are incredibly grateful to our stellar Cymstar team, customers and partners who believe in our mission to create a connected commerce world- we are forever thankful to be on this journey with you! ❤️