Yottaa Announces Significant Growth Investment from PSG
WALTHAM, Mass. - Yottaa, Inc. (“Yottaa”), a provider of software to help brands optimize their eCommerce websites for performance and conversion improvement, today announced a significant growth investment from PSG, a leading growth equity firm partnering with software and technology-enabled services companies to help accelerate their growth. Financial terms were not disclosed.
Yottaa’s eCommerce optimization platform manages third-party applications and enables retailers and direct-to-consumer brands to increase website speed by up to 60 percent. Yottaa’s software drives improved customer experience and elevated conversion rates. By optimizing third-party software commerce add-ons, Yottaa software aims to help reduce friction throughout the online shopping journey and drives higher revenue per session, boosting ROI and ROAS on client marketing investment. We believe the company’s web acceleration solutions, which include RAPID CTRL, BRAND CTRL and Super Accelerator, are easy to implement and provide immediate benefits to revenue per session. Currently, Yottaa works with over 250 eCommerce customers and has recently expanded into the CPG end market.
“eCommerce website optimization is a top priority for both omnichannel and direct-to-consumer brands as they strive to provide a seamless digital experience for their customers. Regardless of brands’ choice of platform and other eCommerce website technologies used, digital experience optimization capabilities like Yottaa’s seek to help brands capture more value from their investments. With this funding, we believe we are well-positioned to accelerate product development and execute on our go-to-market strategy across multiple product categories,” said Rich Stendardo, CEO of Yottaa. “We’re excited to have the support of an experienced partner in PSG given what we see as their deep understanding of what it takes to build and scale a successful software business within eCommerce and their confidence in our product.”
“We believe that website optimization is a universally relevant way for companies of all sizes to improve the customer experience online, and Yottaa’s software products serve brands that want to focus on digital commerce enablement,” said Matt Stone, Managing Director at PSG. “We look forward to working with Yottaa’s impressive team to scale the business, through both organic investment and strategic acquisitions, and aim to drive innovation to better serve current and future clients.”
Post-close, Richard Hearn, Senior Advisor at PSG, will join the Yottaa Board of Directors and partner with Rich Stendardo and Yottaa management with a goal of accelerating growth. Richard has founded, led, and sold a number of commerce-focused software and services businesses, and previously served as Global General Manager of SaaS Commerce, Marketing, and Order Management at IBM.
“Third-party applications are becoming more and more integral to all commerce websites in all categories world-wide. While today’s commerce platforms are already highly performance-efficient, most websites have dozens of integrated third-party applications that aim to improve revenue per session,” said Richard Hearn, Senior Advisor to PSG. “While CDNs are optimizing content for website performance at the edge, and tag managers are attempting to reduce friction manually, Yottaa is focusing purely on optimizing third-party commerce add-ons in an automated fashion to drive conversion lift. Yottaa’s software goes live in days and ROI can be seen instantaneously. In this respect, we believe Yottaa is well-positioned to help brands manage the proliferation of third-party software tools and unlock the value that they can drive across all sales channels.”
Canaccord Genuity Group Inc. served as financial advisor and Cooley LLP served as legal advisor to Yottaa. Weil, Gotshal & Manges LLP served as legal advisor to PSG.
About Yottaa, Inc.
Leading brands such as 1 800 Contacts, Ann, Inc., Carter’s, J. Crew, Lands’ End, Ralph Lauren, and Samsonite rely on Yottaa to accelerate and optimize their eCommerce websites. By optimizing the loading of third-party eCommerce technologies, high-resolution images, and other website elements, Yottaa helps to enable online brands to deliver superior customer experiences, improve website performance, and increase online conversion. By controlling the execution of all third parties and other services on their websites, Yottaa also aims to enable brands to enhance their overall security posture, provide more secure shopper experiences, and ensure compliance with internal and external policies. To learn more about how Yottaa can optimize every page load on your eCommerce website and increase conversions, please visit www.yottaa.com or follow @yottaa on Twitter.
About PSG
PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities, and build strong teams. Having backed more than 100 companies and facilitated over 400 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Paris, Madrid, and Tel-Aviv. To learn more about PSG, visit www.psgequity.com.