Tailor Brands Raises $ 50 Million Led By GoDaddy For Small Businesses
Israel’s online platform for designing brands, Tailor Brands, has raised $ 50 million in a Series C funding round led by GoDaddy, a U.S. internet registrar and web hosting company. Additional participation came from OurCrowd as well as existing investors Pitango Growth, Mangrove Capital Partners, Armat Group, Disruptive VC and serial entrepreneur Richard Rosenblatt. The latest round brings its total funding to $ 70 million.
In the wake of the Covid-19 pandemic, Tailor Brands has moved from an AI-based logo maker to a SaaS platform that provides a range of design, branding and marketing services for small enterprises. In 2020, it has become more important than ever for local stores to set up a digital presence and online ‘storefront’, and its platform can help them design a logo, create social media content. , etc.
“Once we started to really follow the explosive growth of small businesses in the aftermath of Covid, we knew that Tailor Brands could deliver real value to these business owners in fun and engaging ways by removing many of the related barriers. establishing and marketing a new business, including consolidating all necessary services in one place, allowing business owners to free up valuable time to focus on other important aspects of growing their business company, ”said Yali Saar, CEO and co-founder of Tailor Brands. “We are delighted to have this vote of confidence from GoDaddy and our other investors as we continue our growth trajectory with Tailor Brands unique position in the growing SME economy. “
The company uses machine learning to evolve and improve branding options for users. Its proprietary human-computer guidance and design concepts can deliver designs in minutes and are used by 700,000 new businesses every month.
“GoDaddy empowers everyday entrepreneurs around the world by providing them with all the help and tools they need to be successful online,” added Andrew Morbitzer, vice president of corporate development at GoDaddy. “We are thrilled to invest in Tailor Brands – and their team – because we believe in their vision. Their platform really helps entrepreneurs start their business quickly and easily with AI-powered logo design and branding services.
GoDaddy has over 20 million customers and 7,000 employees, helping business owners secure their website domains and host online sites for their businesses. Tailor Brands intends to use GoDaddy’s funding by increasing its investment in R&D to expand its capabilities offered on its platform and improve its marketing efforts.
Tailor Brands was founded in 2015 by Saar, Tom Lahat (CDO) and Nadav Shatz (CTO). He last raised funds in 2018 with a Series B of $ 15.5 million and is based in New York and Tel Aviv.