Online merchant review site Trustpilot received $25 million in C round funding.
US based Trustpilot is a review site where merchants and customers can rate and review online stores. Since 2007 Trustpilot has gained over 5 million members who review and score online merchants and provides online stores with its now popular “TrustScore”. Trustpilot’s TrustScores have become somewhat of an industry standard and are used by Google Shopping and Google’s Seller Rating program.
The new round of funding came from investment firm DFJ and their London subsidiary DFJ Esprit. DFJ was an early investor in Skype. Initial investors, Index Ventures, Northzone and Seed Capital also contributed to the new round of funding.
“DFJ Esprit and DFJ are excited to be leading this investment and to be supporting Trustpilot and its impressive team as they accelerate their American business and operations from a strong European base. Trustpilot has created a solid concept for establishing a global platform for trusted shopping reviews to the benefit of millions of consumers that yearn for great online retail experiences. We see strong potential for Trustpilot to become the global de facto standard in company reviews.” Added DFJ Esprit partner Krishna Visvanathan in a press release.
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Trustpilot offers TrustScores to over 70,000 Ecommerce businesses based on over 6 million shopper reviews. Some of Trustpilot’s clients include B&H, lastminute.com,Express Watches and ebookers. An average of 2,000 merchants and 300,000 shoppers are added to the Trustpilot community every month.
“The consumer has more power than ever to make or break a business and the impact of online reviews is disrupting the way companies think about communication. Businesses can no longer hide behind glossy content and fancy words, it’s all about how companies can build trust and manage reputation in a transparent way.” Peter Holten Mühlmann, Trustpilot’s CEO and founder.