The investment amount was not disclosed, and came after Cymbio raised USD 20 million in a funding round led by Corner Ventures (formerly DAG Ventures), which has invested in companies like GrubHub and Nextdoor, as well as a number of Israeli companies like Healthy.io, a medical tech outfit, and Melio, a fintech startup that recently hit a valuation of USD 4 billion.
Cymbio was founded in 2014, developing a marketplace and dropship automation platform that it says facilitates brands reach local retailers and grow their sales revenue. Through the platform, brands can manage digital channels and support their sales operations, the company says, automating processes for day-to-day management activity between brands and retailers.
The company also adds that its platform allows for retail connections to over 800 marketplaces and retailers. It works with brands such as New Balance and Steve Madden, and retailers such as Macy’s, Dillard’s, Saks, Urban Outfitters, and Walmart. Cymbio has offices in Tel Aviv and New York.
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