|Founded 📆||June 1, 2013|
|Headquarters 🏙️||London, England|
Area served 🗺️
Number of employees
Yieldify is a marketing technology company that delivers conversion rate optimization for e-commerce companies.
Yieldify was founded in June 2013 by brothers Jay and Meelan Radia. The company is headquartered in London and has offices New York and Sydney.
Yieldify raised $11.5 million (£7.3 million) in a Series A funding round with Softbank Capital and Google Ventures Europe. Before its Series A funding round, Yieldify had raised $1.2 million in a seed round from investors including Hoxton Ventures and Robin Klein.
After two years in business Yieldify became one of the fastest-growing tech start-ups in UK history as of December 2015 and was one of Europe's fastest growing SaaS businesses in 2014, with revenue growth of 480%.
The company has expanded to several markets, opening a new office in Sydney, Australia in 2013, an office in New York in 2014, and a technology development hub in Porto, Portugal in 2015. The company was reportedly dogged by IP infringement lawsuits, resulting in a mass lay-off of around a fifth of their workforce in March 2016, the closure of their Munich and Porto offices in summer 2016, and another mass lay-off in November 2016.
Yieldify is part of the conversion rate optimization and predictive marketing industries. Their approach is to use a combination of data analysis and behavioral science to create a more personalized shopping experience. The software collects data on user behaviour, dwell time and browsing activity and matches this data to offers and products to suggest personalized deals to shoppers.
Yieldify was entered into Tech City UK's Future Fifty list of the UK's top 50 fast-growth digital startups.
Litigation against Bounce
In 2015, New York-based competitor Bounce Exchange filed a lawsuit against Yieldify, accusing the company of copying its code and infringing on its patents. Yieldify denied the allegations, but did change its code after Bounce's initial complaint.
With the first case still open, Bounce filed a second lawsuit in April 2016, repeating the initial allegations and adding some of Yieldify's customers as defendants. Yieldify countersued Bounce Exchange, accusing its competitor of infringing on a patent that was not originally Yieldify's but was purchased by Yieldify from Intellectual Ventures.
The two companies reached an undisclosed settlement in July 2016.
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