Cymbio, a Tel Aviv-based B2B drop-ship automation platform, raised $20 million in a Series B round.
The round was led by Corner Ventures, with participation from Udi Angel, Vertex Ventures, Yuval Tal, with new backers Chris North, ex-Amazon executive, and Jeff Weiser, formerly of Shopify.
Cymbio 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.
Cymbio is also planning to add new offerings to its core automation platform to expand actionable data analytics and enhance its low-code integration capabilities.
Company: Cymbio
Raised: $20.0M
Round: Series B
Funding Month: November 2021
Lead Investors: Corner Ventures
Additional Investors: Udi Angel, Vertex Ventures, Yuval Tal, Chris North, and Jeff Weiser
Company Website: https://cym.bio/
Software Category: B2B drop-ship automation platform
About the Company: 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. Cymbio enables digital sales growth for brands with the world's first brand-centric drop ship and marketplace platform. Cymbio's all-encompassing, B2B automation hub supports all systems, protocols, and vendors while seamlessly exposing brands to a global retail ecosystem. Cymbio supports over 600 retailers, marketplaces, department stores, and boutiques such as Nordstrom, Kohl’s, Macy's, Farfetch, Urban Outfitters and serves hundreds of brands, including Steve Madden, Marchesa, Camper, and more.
Source: https://techcrunch.com/2021/11/17/tel-aviv-based-cymbio-raises-20-million-in-series-b-funding-draws-the-backing-of-ex-amazon-and-former-shopify-executives/