Israeli SaaS co YOOBIC raises $25m

Israeli startup YOOBIC, founded by brothers Fabrice (CEO), Avi (CTO) and Gilles (head of R&D) Haiat, has announced the closing of a $25 million Series B financing round. The round was led by Insight Venture Partners and Felix Capital, which also led YOOBIC's previous financing round together with investor Gigi Levy-Weiss. The company has raised $30.3 million to date.

YOOBIC has developed a platform that manages and monitors sales of store chains through software as a service (SaaS). The company's customers include stores and brands in 44 countries using the platform in order to monitor their marketing and sales processes within the organization in real time. The company's customers include over 100 international brands and retailers with more than 200,000 branches, including auto brands Peugeot and Citroen; fashion brands Lacoste, The Kooples, and Foschini; and German retail giant Aldi.

YOOBIC is now embarking on a very large personnel recruitment drive to add 100 new employees to its staff in its offices in Tel Aviv, London, and Paris. The company will use the capital it raised to continue development of its platform's capabilities and to add new services. It also plans to expand its activity by entering the US market and will hire salespeople before opening offices in New York in September.

Fabrice Haiat says, "Opening offices in New York is a milestone in our international expansion. Our revenue grew 143% last year and we doubled our team of employees to 100. Today we offer the leading solution for retailers in Europe and our platform is used for hundreds of thousands of tasks daily. Customers' expectations are higher than ever before, which makes management of stores more challenging. The digitalization of stores that we offer makes it possible to streamline operational processes while saving time and cutting operating costs."

YOOBIC, founded in 2014, is the Haiats' second venture; they sold Vizelia to Schneider Electric in 2011.

Published by Globes [online], Israel business news - www.globes-online.com - on June 28, 2018