London-based Yoobic has raised $25m (£18.8m) in a fresh round of funding.
The SaaS company which seeks to help retailers and brands track merchandising and marketing operations received support from Insight Venture Partners and existing investor Felix Capital.
Yoobic will use the cash to fund its growth plans as it seeks to hire an additional 100 people across London, New York and Tel Aviv over the coming 12 months.
Additionally, the startup says the money will help it develop new product capabilities and expand to the US.
Set up four years ago, Yoobic has created a mobile-first solution that seeks to help retailers improve in-store operations as well as simplify communication between HQ and stores to transform customer experience.
To date, the company says it’s worked with fashion brands including Lacoste, The Kooples and Aldi UK. Other customers include Peugeot and Citroën.
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Fabrice Haïat, the CEO and co-founder, said: “Yoobic is growing very quickly. We had revenue growth of 143% from 2016 to 2017. We’ve doubled the size of our team in the last 12 months and we now have 100 employees. We are the leading retail operations solution in Europe. Each month, more than 100,000 tasks are performed by our clients in our application.
“Opening a new office in New York in September is a milestone in our international expansion. Our priority is to continue improving our solution to help our clients provide their customers with an excellent shopping experience in every store, while making them more profitable.
“The digitisation of the store is a priority for every retailer, alongside streamlining internal operational processes and communications to make them more efficient. This benefits the entire organisation as it helps store teams save time by making their day-to-day job easier and decreases operational costs.
“Customers have higher expectations than ever before and that makes managing stores more challenging. By placing the human at the centre of our product development process, we provide each store associate with a user-friendly and easy-to-use mobile application to manage daily tasks.”
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Jeff Lieberman, managing director of Insight Venture Partners, said he was looking forward to working with the company as it looks to crack the US.
“We believe solutions like this will become a must-have for retailers, and that Yoobic has the opportunity and the potential to become the leader of its category.”
Frédéric Court, Founder and Managing Partner of Felix Capital, concluded: “Yoobic has experienced tremendous growth and we’re delighted to continue our partnership with the company to accelerate its global expansion.”
The news comes after Yoobic closed a Series A last year.