Insight, Felix in $25m round for UK-based Yoobic

Existing backer Felix Capital also took part in the round, having invested in the business around a year ago. Yoobic secured $5.3m from the VC in May 2017, with the series-A earmarked for R&D and customer services. The startup was previously self-funded.

The significantly larger second round of funding will go towards financing international expansion, with Yoobic aiming to grow beyond its home market in London towards the rest of Europe and the US.

According to specialist publication TechCrunch, the rapid increase in fundraising matches Yoobic's growth, with revenues increasing by 143% between 2016 and 2017.

Insight has been particularly active in Europe so far this year, with Unquote Data recording nine investments by the VC in the first half of 2018.

Company
Established in 2014, Yoobic develops a SaaS platform designed to help retail staff communicate with head offices to plan and execute merchandising and marketing campaigns. To achieve this, the platform relies on using technology including computer vision to improve store visits, checklists and visual merchandising compliance.

People
Insight Venture Partners – Jeff Lieberman (managing director).
Felix Capital – Frederic Court (founder).

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• Topics
• Expansion
• UK / Ireland
• Technology
• Venture
• Felix Capital
• Insight Venture Partners
• United Kingdom