Yottaa Expands With New WW Sales Organization And Secures Mezzanine Funding To Drive Revenue And Company Growth
Leading Provider of eCommerce Acceleration Software Installed on Over 1,000 Sites Poised to Double Revenue Over the Next 18 Months
Waltham, MA—October 15, 2018—Yottaa, Inc., the leading Cloud platform for accelerating eCommerce, today announced that it is accelerating its worldwide growth through additional leadership and financing. Yottaa has named Jim Morrone, a proven enterprise software sales leader, as its new Vice President of Worldwide Sales. Simultaneously, the company announced it has raised $11 million in funding. Both will help Yottaa grow revenue and scale its operations, building on success with global customers such as ASICS, Jockey, Nelly.com, and Samsonite.
Yottaa uses a patented optimization engine, analytics, and machine learning to help customers make their sites up to 60% faster and more resilient to the ups and downs of the eCommerce ecosystem. As a result, the company’s eCommerce Acceleration Platform is quickly becoming the standard in every digital customer experience for not only retail brands but other verticals as well, such as online media. Brands using the Yottaa platform have experienced up to 20% increases in conversion.
According to Retail Systems Research (RSR) the average retail website has between 40-60 3rd party technologies, providing rich, engaging online experiences for shoppers but also slowing down sites. Yottaa optimizes the loading of 3rd parties, high resolution images, and other website elements, on every device and on every major eCommerce platform including Salesforce, Oracle, Shopify, and SAP. Yottaa’s recently published 2018 eCommerce 3rd Party Technology Performance Index uses the platform’s embedded analytics to further cement the company’s position as the thought leader in digital performance optimization.
The addition of Jim Morrone brings over 25 years of experience growing global sales organizations to the Yottaa team. Before joining Yottaa, Jim held senior sales leadership positions with SAP, Oracle’s Retail Business Unit, and Endeca’s eBusiness group. In his new role, Jim will be responsible for rapidly growing Yottaa’s global sales team and implementing customer-focused strategies to achieve Yottaa’s revenue objectives.
“Yottaa is providing tremendous value to some of retail’s biggest brands and I’m very excited to be joining the company as it scales to the next level,” said Jim Morrone, Vice President of Worldwide Sales, Yottaa. “Through its differentiated technology and proven performance and conversion benefits, Yottaa has become the standard web acceleration engine for retail sites. I look forward to working with the Yottaa sales team and the rest of the company to get Yottaa implemented by major retailers and brands around the world.”
Yottaa also announced today that it has secured $11 million in funding led by DN Capital. Previous investors include Stata Venture Partners and General Catalyst. This mezzanine financing will fund Yottaa’s global expansion and help scale the company to meet the rapidly growing demand for its software.
“DN Capital is passionate about investing in high growth tech companies that are changing the way business is done online,” said Steve Schlenker, Managing Director, DN Capital. “DN has a long history of backing innovators in online consumer retail, including investing in Endeca which was acquired for $1.1 billion by Oracle (ORCL), OLX which is now a multi-billion dollar division of Naspers (NPSNY), and Shazam which was recently acquired by Apple (AAPL). With its sophisticated technology, measurable performance/conversion benefits, and impressive list of global retail brand customers, Yottaa is not only revolutionizing online retail site responsiveness, but also substantially increasing the profitability of the online channel.”
“Yottaa’s new class of software is now used on more than 1,000 eCommerce websites around the world,” said Rich Stendardo, CEO of Yottaa. “In 2017, the company grew bookings by over 80%. With this new round of funding and the appointment of Jim Morrone as the company’s sales leader, Yottaa is well poised to double revenue over the next 18 months.”
Leading retailers, such as Carter’s, The Container Store, Hallmark, eBags, Jockey, JoAnn Fabrics, and Rockport, rely on Yottaa’s Cloud platform to accelerate and optimize the loading of 3rd party eCommerce technologies, high resolution images, and other website elements, resulting in up to 60% web performance improvements and up to 20% increases in online conversion. To learn more about how Yottaa can accelerate your eCommerce site and increase conversions, please visit www.yottaa.com or follow @yottaa on Twitter. To see how 3rd parties might be impacting the performance of your site, please download the 2018 eCommerce 3rd Party Technology Index.