Cymbio, an Israeli startup focusing on brand-to-retailer connectivity, closed a $7 million Series A round. The investment was led by Vertex Ventures and saw participation from existing investors Udian Investments and Sapiens co-founder Ron Zuckerman, as well as new investor, Yuval Tal (Payoneer Founder).
Connecting the right brands to the right markets
As with every brick & mortar retailer, COVID reality has forced brands to enhance, and subsequently manage hundreds of different digital sales channels. Setting up and connecting to each marketplace and navigating retailers’ systems and requirements, while also managing the daily operations with each channel, is a significant challenge facing brands today.
“Cymbio is all about empowering brands and helping them grow. Our ability to connect with all systems and protocols supports brands with the needed speed to go live with multiple retailers, and our automation platform enables brands to support marketplace and drop ship operations at scale,” said CEO Roy Avidor.
Cymbio aims to help brands increase sales by replacing long 1-1 integrations, manual operations, and daily management of brand to retail connectivity. The Company’s platform 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.
According to the company, its ‘plug-and-play’ system enables brands to start selling through a global retail ecosystem of hundreds of marketplaces and retailers. This has resulted in leading brands such as Steve Madden, Camper, Micro Kickboard, Marchesa, and others, adopting the Cymbio platform to better streamline brand-retailer connectivity. The company reported rapid growth throughout 2020’s digital acceleration, onboarding new brands of all sizes, and from various retail industries, including fashion, apparel, cosmetics, toys, jewelry, and more. Supporting over 600 retailers, department stores, and marketplaces across the U.S., Canada Europe, and APAC, Cymbio’s numbers show that adopting its connectivity system has proven to cut time to go live on a new marketplace by 91%, increase revenues from digital channels by more than 65%, and increase total units sold by 47%.
“The growth that we have seen over the last year hints at the market need for a platform such as ours, and we are going to double-down on our efforts to help brands of all sizes reach their customers wherever they are," added Avidor.
Cymbio was founded in 2015 by Gilad Zirkel, Mor Lavi, Roy Avidor. The company employs a team of 21 at its Israel-based offices, and plans on using the funds to expand Cymbio’s global footprint, and accelerate R&D, sales, and marketing efforts.
“We believe deeply that Cymbio’s technology will fundamentally change the game for brands that sell online, making long, cumbersome integrations a thing of the past,” said Emanuel Timor, General Partner at Vertex Ventures Israel.