Tel Aviv-Based Cymbio Raises $20 Million In Series B Funding, Draws The Backing Of Ex-Amazon And Former Shopify Executives

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Today’s new funding announcement comes about seven months after the startup raised $7 million in a Series A round, which the company used to expand its sales and marketing team, and its technology. The company has built the infrastructure for the next generation of eCommerce, with a platform that uniquely supports brands’ growth,” said co-founder and general partner at Corner Ventures, Marvin Tien. “At the same time, we received many referrals from third party logistics and software vendors, which generated a network effect (where more brands brought more marketplaces, who brought more brands who brought more vendors to the Cymbio network) which helped us scale up quickly.”The company said that it has so far tripled its revenues in 2021, when compared to a similar period last year, and has grown its enterprise customers fourfold. “Cymbio is laser-focused on serving brands, enabling sales growth while relieving manual, error-prone, and time-consuming processes,” said Avidor, the startup’s CEO.