On Thursday (22.07.2021), New York-based Tailor Brands announced that it raised USD 50 Million in a Series C funding round. The startup automates the process of marketing and branding.
This round was led by GoDaddy as a strategic partner and saw participation was OurCrowd and the previous backers’ Mangrove Capital Partners, Pitango Growth, Disruptive VC, Armat Group and Richard Rosenblatt, founder of Whip Media.
Till now Tailor Brands has raised USD 70 Million since it was founded.In 2018, the company raised USD 15.5 Million in Series B round.
The latest funding will be used in the development of R&D and expansion of the workforce, and create functions and capabilities.
Lately, Tailor Brands is onboarding nearly 700,000 users on a per month basis for settling their business in the early stage of setting the business. The startup noticed a 27% increase in business corporations.
It was initiated by Nadav Shatz, Tom Lahat, and Yali Saar, having its headquarters in the Greater New York Area. Currently, it is compiling the components for a SaaS platform – providing marketing, branding and designing services for SME owners who need to scale and launch operations.
“GoDaddy is empowering everyday entrepreneurs around the world by providing all of the help and tools to succeed online. We are excited to invest in Tailor Brands — and its team — as we believe in their vision. Their platform truly helps entrepreneurs start their business quickly and easily with AI-powered logo design and branding services.” – Andrew Morbitzer, vice president of corporate development at GoDaddy.
The CEO, Yali Saar, Tailor Brands stated – “Tailor Brands is at a point where it can begin leveraging the massive amount of data on small businesses it gathers to help them be proactive rather than reactive, turning the platform into a ‘consultant of sorts’ to guide customers through the next steps of their businesses.”
“Users are looking for us to provide them with everything, so we are starting to incorporate more products with the goal of creating an ecosystem, like WeChat, where you don’t need to leave the platform at all to manage your business,” he added.
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