Tailor Brands, a one-stop shop platform enabling freelancers and small businesses to launch and operate using AI tools, has raised $50 million in a Series C funding round led by strategic investor GoDaddy Inc, the company announced Thursday.
Follow Israel Hayom on Facebook and Twitter
OurCrowd and existing investors Pitango Growth, Mangrove Capital Partners, Armat Group, Disruptive VC, and serial entrepreneur Richard Rosenblatt also participated in the round, which brought Tailor Brands' total fundraising to $70 million since 2015.
As a result of the rapid growth of small businesses launching during Covid, up by 27% in 2020 alone, Tailor Brands has expanded from an AI-powered logo maker to an SaaS platform that provides a full range of design, branding and marketing services needed to launch and scale small business operations.
"Once we started to really track the explosive growth of small businesses as a result of Covid, we knew that Tailor Brands could provide real value for these business owners in a fun and engaging way by removing many of the hurdles that come with establishing and marketing a new business, including consolidating all of the needed services in one place, enabling business owners to free up valuable time to focus on other important aspects of growing their companies," said Yali Saar, CEO and co-founder of Tailor Brands. "We are thrilled to have this vote of confidence from GoDaddy and our other investors as we continue on our growth trajectory with Tailor Brands unique position in the growing SMB economy."
"We are excited to invest in Tailor Brands – and its team – as we believe in their vision. Their platform truly helps entrepreneurs start their business quickly and easily with AI-powered logo design and branding services," said Andrew MOrbitzer, vice president of corporate development at GoDaddy.
