Web performance vendor Yottaa raises $13 million and names a new CEO
November 15, 2016 01:30 PM
Yottaa Inc., an e-commerce vendor that works to speed and optimize the performance of desktop and mobile sites, has raised $13 million and named Rich Stendardo as its new CEO.
The new funds bring the total amount raised by Yottaa to just over $50 million since the company’s launch in 2013. Yottaa will use the cash to grow its sales, marketing, engineering and network operations teams worldwide.
The funding round was led by Stata Venture Partners and includes existing investor General Catalyst.
Stendardo replaces former CEO Vick Vaishnavi, who recently left the company. Stendardo has held senior management roles at Amazon.com Inc., No. 1 in the Internet Retailer 2016 Top 500 Guide, and site search vendor Endeca, which was acquired by Oracle Corp. He was most recently vice president of strategy at machine learning platform DataRobot, according to his LinkedIn profile.
“Yottaa is solving a critical challenge for e-commerce companies by accelerating visitors becoming buyers on their websites across all devices and improving their customers’ experience, particularly on mobile,” says Stendardo. “Since its inception, Yottaa has helped some of the biggest brands improve online conversions by accelerating web page load speeds by 40% to 60%. With this new round of funding, Yottaa is poised for increased growth and innovation, and to become the clear leader in e-commerce acceleration.”
Yottaa’s e-retailer clients include Hallmark (No. 239 in the Top 500), eBags (No. 167), King Arthur Flour (No. 472) and Moosejaw (No. 261). Yottaa has nine e-retail clients in the Internet Retailer Leading Vendors to the Top 1000.
EBags says its web page speeds improved 30% and mobile conversions grew 10% after implementing Yottaa.