Customer Referral platforms
Updated: December 22, 2022
2022. Customer referral platform Mention Me raises $25M
Mention Me, a platform to generate customer referrals, has raised a $25 million Series B round. The startup helps businesses turn referrals into a channel for acquiring customers, while also gathering data for other marketing activities. Its competitors include Friendbuy (raised $1.8 million), Talkable (raised $4.2 million), Extole (raised $28.7 million) and Yotpo (raised $436 million).
2021. E-commerce marketing startup Yotpo raises $230M
Yotpo, a startup that aims to provide all of a brand’s e-commerce marketing needs in a single, integrated platform, has raised $230 million in a Series F. The platform currently consists of four main products — Yotpo SMS Marketing, Yotpo Loyalty & Referrals, Yotpo Reviews and Yotpo Visual UGC — which integrate with each other, as well as with e-commerce platforms such as Shopify, Salesforce Commerce Cloud, Adobe-owned Magento and BigCommerce. For example, a marketer wants to create a customized offer just for users who had both purchased a product in the past 90 days and left a five-star review. Yotpo allows to do that with just the click of a button.
2015. Customer review software Yotpo raised $15 million
Yotpo, a platform that helps businesses with original content marketing, has closed a $15 million funding round. This brings total funding so far by the company to $30 million. Once a business signs up with Yotpo, the company uses data to identify the optimal methods to persuade a user to generate original content. For example, this means Yotpo has learned exactly when and how to engage specific customers post-purchase for the best chance at getting them to write a review. For example, it can show that users who purchase electronics take an average of four times longer to write a product review, compared to a user purchasing a fashion product. The company said that analytics like these allow it to supply customers with up to 10 times more user-generated content than its competitors. Yotpo’s platform has led to an additional $50 million in revenue for its customers over the last year.