Just months after our Series B funding round, Cymbio is excited to announce that it has added PayPal Ventures as its newest investor.
PayPal Ventures is the venture capital arm of PayPal, the world’s most widely-used online payment processing platform. They’re committed to investing in promising start-ups in the commerce industry, and we’re so proud they see Cymbio as a leader in the field. Cymbio is excited to work alongside the giant of the digital payment space in furthering our efforts to make brand-to-retail connectivity easy, quick, and accessible.
PayPal Ventures recognizes that the changing nature of the eCommerce landscape is headed towards multi-channel selling and digital marketplaces, and that Cymbio is paving the way towards simpler multi-channel selling.
“Cymbio shares our ambition to support businesses of all sizes in expanding their digital commerce operations. Multi-channel selling is one of the most effective ways for brands and merchants to reach more consumers and increase sales,” said Phil Valka, Senior Director, PayPal Ventures. “We’re excited to invest in an innovative solution that solves customers’ pain points around data integrations, thereby unlocking further growth opportunities.”
Brands are motivated to sell on multiple platforms and channels, but the big blocker that’s prevented them from being able to do so has been the process of transferring their own data from product catalogs into a system that retailers use and understand. Cataloging product data and integrating it into different systems can take months of work and a lot of manual effort. To make matters more complicated, every retailer has their own unique system with specific requirements, so brands have to work that much harder to expand their reach to multiple channels.
Cymbio offers a centralized platform enabling seamless and scalable retail connections to over 800 marketplaces, retailers, and widely-used eCommerce solutions. Cymbio’s platform is compatible with all major systems and protocols used by retailers and marketplaces, and automates all drop ship and marketplace operations, including integration, set-up, and day-to-day management of the full relationship between brands and retailers. The investment from PayPal ventures will allow Cymbio to continue to invest in the company’s hypergrowth and expand capabilities to better serve clients, including a financial services offering for the hundreds of brands on its platform, slated for Q2 2022.
“PayPal Ventures’ investment in Cymbio reflects the important role that Cymbio is playing in enabling brands to shift to a multi-channel commerce model,” said CEO Roy Avidor, who founded the company with Mor Lavi and Gilad Zirkel. “This investment will support Cymbio in the next stage of our journey as we continue to help brands accelerate their digital sales growth by connecting them to a global retail ecosystem. We are grateful for the opportunity to work with the PayPal Ventures team, and we are excited to start enabling our customers with the financial tools needed to run efficient drop ship and marketplace operations.”