London-based e-commerce conversion group Yieldify has just raised $6 million in new funding.
The investment, contributed to by the CEO of Conversant, John Giuliani, who joins as chairman - as well as New Look founder Tom Singh - will be channeled into building the company’s scale in the e-commerce market, where it currently serves brands including Marks and Spencer, Domino’s Pizza, Omni Hotels and Anthropologie.
In July 2015, the company secured an $11.5 million windfall backed by GV (formerly Google Ventures) among a number of others, which later saw it add an office in the Portuguese “tech hub” Porto, as well as launching its self-service Conversion Platform early this year - a product which it claims to have already delivered 4.5 billion interactions for users.
Not without its ups and downs, however, the time between funding rounds has also seen Yieldify finally put to rest a long-fought ownership dispute with US competitor Bounce Exchange, agreeing on an undisclosed settlement.
“Breaking new ground”
Speaking on the investment and the future of Yieldify, CEO Jay Radia - who co-founded the business alongside his brother Meelan Radia (both pictured above) - called the new investment a “fantastic endorsement” of the company’s vision in the wake of its product launch.
“Yieldify is on a mission to define the future of marketing and this funding will secure our ability to execute on that at speed and at scale,” Radia told PerformanceIN.
He added that the company is “excited” to see what can be achieved under the guidance of Giuliani, who has over 30 years’ experience in building and selling successful businesses, including the sale of Conversant to Alliance Data in 2014 for $2.4 billion.
Speaking on his appointment, Giuliani said that Yieldify is “breaking new ground” in the marketing tech space; “This is shaping up to be an exciting journey that I’m looking forward to being a part of,” he said.