Cymbio, a company that automates the management of digital sales channels for brands, announced today the completion of a round of recruitment B $ 20 million led by Corner Ventures, and with the participation of existing investors Udi Angel, Vertex Ventures, Yuval Tal and other investors.
The increase in sales in the digital world, the sharp increase in the number of marketplaces opened in recent years and the number of sales for which marketplaces are responsible, have led to the development of a new category in the retail world – marketplace sales and dropship. Brands sell their products through marketplaces of department stores and retailers large and small alike, when a consumer purchases a product, the brand (and not the store) receives the order to him and sends the product directly to the consumer. It is an innovative way to reach a large number of customers, but this opportunity comes with challenges and requires complex technological and operational capabilities from the brands.
Symbio was established to help brands overcome these challenges effectively and connect them with all retailers and sales channels. The company’s technology enables brands to manage digital channels and supports all systems, protocols and vendors and enables them to start selling in thousands of digital markets (marketplaces). In addition, Symbio’s technology enables automation of all required operations: from commercial connection with stores and marketplaces, integration, data, inventory, orders, accounts and setting up the day-to-day management of all operations between brands and retailers. The company’s customers include brands such as Steve Madden, New Balance, Juicy Couture, Micro Kickboard and it supports hundreds of retailers such as Farpatch, Nordstrom, Macy’s, Urban Outfitters, Target, Coles, Walmart and more.
‘Symbio connects brands and stores and enables brands to increase sales in the digital world. “Our technology simplifies complex processes by using automation and allows brands to execute decisions that used to take months, with the push of a button,” said Roi Avidor, co-founder and CEO of Symbio, which was founded with Mor Lavie and Gilad Circle.
“We are excited to work with so many groundbreaking people from the industry. Together we will continue our journey to create a world of connected digital commerce that allows any company to work and collaborate with any other company, without technical and operational constraints. The current recruitment will allow us to support the growth we experience “It will help us develop additional tools that will enable brands to continue to grow in the ever-evolving digital world,” he added.