Tel Aviv-based Cymbio raises $20 million in Series B funding, draws the backing of ex-Amazon and former Shopify executives

Tel Aviv-based Cymbio raises $20 million in Series B funding, draws the backing of ex-Amazon and former Shopify executives

Cymbio, a Tel Aviv-based startup has raised $20 million in a Series B round, which saw the participation of two new backers, Chris North, an ex-Amazon executive, and Jeff Weiser, formerly of Shopify.

The funding was led by Corner Ventures, with participation from Udi Angel, Vertex Ventures and Yuval Tal, founder and president of Payoneer.

Cymbio, a B2B drop-ship automation platform, is planning to use the new funding to grow its global footprint by establishing an office in Europe and expanding its team in the U.S.

The company was founded in 2015 by Roy Avidor, Mor Lavi and Gilad Zirke, driven by their passion for e-commerce and a realization of the challenges faced by brands and retailers in digital commerce. The platform was built to connect brands with retailers and/or marketplaces.

“Cymbio is laser focused on serving brands, enabling sales growth while relieving manual, error-prone and time-consuming processes,” said Avidor, the startup’s CEO.

“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 allows us to continue innovating and supporting brands’ growth with additional product offerings, expanding partnerships and our global footprint.”

 

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