The COVID-19 pandemic has not just accelerated ecommerce growth, it also beefs up investment in new technologies and fast-growing ecommerce-focused startup company, like Cymbio. This Israeli-based provider an end-to-end drop ship and marketplace automation platform has just announced a $20 million fresh funding from its latest Series B financing round.
Corner Ventures led this latest financing event, with participation from Udi Angel, Vertex Ventures, and Payoneer founder Yuval Tal. Chris North (ex-Amazon MD) and Jeff Weiser (ex-Shopify CMO) also joined the funding round as new investors. The additional funding will be used to fuel the company’s expansion programs, extending its business reach. This latest round brings the company’s total-raised money to $30 million at a “nine-figures” valuation, according to VentureBeat.
Founded in 2015, and based in Tel Aviv, Israel, Cymbio develops an end-to-end drop ship and marketplace automation platform. The company’s platform automates drop ship and marketplace operations, from connecting with retailers to the daily management of all ecommerce operational needs.
In addition to that, Cymbio’s technology also automates return, shipping, and even cancelation processes. The Israeli startup acts as the technology bridge between brands such as Camper, Authentic Brands, thousands of retailers, boutiques, marketplaces, and department stores.
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