Trustpilot, the leading independent review platform has announced that it has raised around $55 million (€48.5 million) in a Series E equity investment round. The round was led by Sunley House Capital Management along with participation from existing shareholders Vitruvian Partners, Draper Esprit, Index Ventures, Northzone and Seed Capital.
This funding will help the company to strengthen its position through investment in marketing, its technology platform and people. Additionally, it is planning to accelerate its drive to set new standards for transparency in the review space as well.
All you need to know about Trustpilot!
For the starters, Copenhagen-based Trustpilot is an independent review platform, free and open to all companies and consumers. With more than 58 million reviews of over 265,000 domains, the company gives people a place to share and discover reviews of companies. Trustpilot has grown rapidly since inception via its freemium SaaS business model
How Trustpilot benefits companies?
For the companies, collecting consumer reviews on Trustpilot not only helps them grow and show brand trust but also delivers tangible, measurable business results and turning significantly more browsers into buyers.
3.5 billion times online each month!
At present, Trustpilot is one of the top 1% most visited websites worldwide and a leader in the UK, other European markets and North America. Founded by Peter H. Mühlmann in 2007, the brand is seen more than 3.5 billion times online each month.
“There has never been a greater need for trust online and in the world which is why we keep pushing the boundaries of what’s possible in the review space,” said Trustpilot founder and CEO, Peter Mühlmann. “Our open and transparent approach is crucial. It empowers consumers and companies to collaborate, innovate and improve together and that’s what builds lasting brand trust.”
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