Trustpilot raised 55 million dollars (48.5 million euros) in a Series E-funding round, reports Buzzwire. With this new capital, the online review platform wants to increase and strengthen its market position. They are going to achieve this by investing more money into marketing, technology and personnel.
The funding round was led by Sunley House Capital Management. According to Mohahmmed Anjarwala (managing director at Sunley), Trustpilot offers companies a way to efficiently improve their digital marketing and customer engagement. “We believe that the company has an enormous growth potential in the United Kingdom, as well as in the rest of the world.”
The review platform is the market leader in the United Kingdom, as well as in the US and in the Netherlands. According to the company itself, Trustpilot is among the 1% most visited websites in the world, even though they have only been operating since 2007.
Trustpilot insist on taking transparency in the world of reviews to a higher level, next to growing further as a company. It’s a good idea: a bunch of negative reports have been out there about sites that offer customer reviews.
The founder and CEO of Trustpilot, Peter Mühlmann said: “There has never been a greater need for trust online and worldwide. 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.”