Cymbio raises $20 million Series B for digital commerce platform
The Israeli startup provides brands a centralized platform to manage marketplaces, drop ship, boutiques, retail set-up and onboarding
Cymbio, which has developed a brand-centric, marketplace and drop ship automation platform, announced on Wednesday that it has raised a $20 million Series B financing round 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).
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, this also presents significant commercial, technical and operational challenges as retailers must quickly connect and scale new sales channels.
Cymbio co-founders. Photo: Cymbio
Cymbio's platform aims to help brands connect 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.
Cymbio’s clients include New Balance, Authentic Brands Group, Steve Madden, Marchesa, Camper, and Micro Kickboard.
“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.”