E-commerce automation platform Cymbio raises $20m

Cymbio, a marketplace and drop shipping automation platform, has raised $20 million in a Series B funding round.

The round was led by Corner Ventures, with additional participation from existing investors Udi Angel, Vertex Ventures, Payoneer founder Yuval Tal, and new investors such as ex-Amazon managing director Chris North and ex-Shopify chief marketing officer Jeff Weiser.

The Israel-based firm said its technology gives brands the ability to manage digital channels, enabling them to start selling on thousands of marketplaces and retailers.

Cymbio said it automates drop shipping and marketplace operations, such as commercially connecting retailers and marketplaces as well as integration, set-up, and day-to-day management of the operations between brands and retailers.

"Cymbio is laser-focused on serving brands, enabling sales growth while relieving manual, error-prone, and time-consuming processes," said chief executive 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.”

He added: “This next stage will allow us to continue innovating and supporting brands' growth with additional product offerings, expanding partnerships and our global footprint."

Marvin Tien, co-founder and general partner at Corner Ventures, said: "Cymbio's technology stack is paving the future for brands that sell online. The company has built the infrastructure for the next generation of eCommerce, with a platform that uniquely supports brands' growth. We are thrilled to support this truly exceptional team as it expands its global operations."

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