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Cymbio Raises $20 Million from former Amazon and Shopify Execs

Cymbio

Cymbio Roy Avidor Co-founder & CEO, Gilad Zirkel Co-founder & CTO, Mor Lavi Co-founder & COO

Cymbio, an Israeli startup that offers a marketplace automation platform, has raised $20 million in series B financing led by Corner Ventures with participation from Udi Angel, Vertex Ventures, and Yuval Tal. This round of funding brings the total amount raised by Cymbio to $30 million to date.

Chris North, a former Amazon executive, and Jeff Weiser, who once worked with Shopify, are new investors in Cymbio. If their combined experiences working in online retail count for anything, then their inveting in Cymbio surely says a great deal about the startupโ€™s possibilities.

That figure includes $7 million from a Series A round that Cymbio held this past March. The company is reportedly now estimated to be worth hundreds of millions.

Founded in 2015 by CEO Roy Avidor, Mor Lavi, and Gilad Zirkel, Cymbio provides a platform to brands, such as Steve Madden, Marchesa, Camper, Micro Kickboard, and hundreds of others, that connects them directly to their retail partners, enabling a true “Plug & Sell” reality. The Company’s technology automates all drop ship and marketplace operations for brands with any retailer, including the complete set-up, integrations, onboarding and daily management of streamlined product data, imagery, mapping, taxonomy, inventory syncing, orders, billing, tracking, returns, reports and more.

โ€œCymbio is laser-focused on serving brands, enabling sales growth while relieving manual, error-prone, and time-consuming processes,โ€ said Avidor, the startupโ€™s CEO.

โ€œWe are humbled and excited to work with so many trailblazing operators and visionaries, and together join our mission of creating a connected commerce world,โ€ he added. โ€œThis next stage allows us to continue innovating and supporting brandsโ€™ growth with additional product offerings, expanding partnerships and our global footprint.โ€

Throughout 2020, Cymbio experienced rapid growth, increasing its customer headcount 12X, with brands of all sizes, from small to enterprise brands, in fashion, apparel, footwear, home, beauty, cosmetics, jewelry, kids, toys and more. Using Cymbio, customers cut the amount of time it takes to go live on a new marketplace by 91%, have experienced an average digital revenue increase of over 65% and an increase of 47% in average units sold. Cymbio currently supports more than 600 retailers, marketplaces and department stores across the US, Canada, Europe, and APAC.

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