Waltham, Massachusetts-based Yottaa is a leading provider of eCommerce acceleration software, which has raised $11 million in funding led by DN Capital. The funding will be used to scale its operations and build on the success of its existing customers such as ASICS, The Container Store, Hallmark, JoAnn Fabrics, Jockey, Nelly.com, and Samsonite.
What does Yottaa do exactly? The average retail website tends to use about 40-60 third-party technologies, which provide engagement shopping experiences at the expense of site speed. Yottaa is able to optimize the loading of third parties, high resolution images, and other website elements on every device and every major eCommerce platform such as Salesforce, Shopify, Oracle, and SAP.
Yottaa utilizes a patented optimization engine, analytics, and machine learning technology to help customers to make eCommerce websites more stable and run up to 60% faster. And brands using Yottaa’s platform have reported a 20% increase in conversion.
“Yottaa’s new class of software is now used on more than 1,000 eCommerce websites around the world,” said Yottaa CEO Rich Stendardo. “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.”
In its funding announcement, Yottaa also announced that Jim Morrone has been named as the new VP of Worldwide Sales. Morrone brings 25 years of experience growing global sales organizations with SAP and Oracle’s Retail Business Unit. Morrone is going to be responsible for Yottaa’s global sales team. “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,” added Morrone. “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.”
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