Google Ventures to invest millions into London start-up Yieldify
An e-commerce start-up that helps online retailers increase sales has become the third business to receive investment from Google’s investment arm Google Ventures Europe.
Two-year-old Yieldify is to receive £7.3m in combined funding from Google and a Japanese telecoms company called Softbank – according to reports in Business Insider.
Speaking to Business Insider, Yieldify’s CEO Jay Radia said: “The great thing about getting money from Google Ventures is you get access to a lot of great resources.
“The guy who merged Double Click with Google, he’s speaking to us now; the guy who created Google Maps, I’ve got access to him whenever I want. It’s having access to the best tech enthusiasts in the world — they’re just a few seconds away on Skype.”
Headquartered in Monument, London, Yieldify already has offices in New York, Berlin and Sydney and grew at an eye watering 480% between 2013 and 2014. The company was founded by brothers Jay and Meelan Radia and now employs 120 people.
Google Ventures partner Avid Larizadeh Duggan, led the investment and is set to join Yieldify’s board as part of the fundraising.
Larizadeh Duggan said: “Yieldify takes a novel approach to converting visitors into customers, enabling marketers to adapt and better understand online customer intent.”