Trustpilot Closes $55 Million Series E Funding Round Led by Sunley House Capital Management with participation from SEED Capital
Trustpilot, the leading independent platform for companies to build trust with consumers, today announced it has raised $55 million in a Series E equity investment round. The round was led by Sunley House Capital Management with strong participation from us at SEED Capital and the other existing shareholders Vitruvian Partners, Draper Esprit, Index Ventures and Northzone. The funding will support Trustpilot’s strategy to be the leader in trust and transparency
Founded in 2007, Trustpilot has grown rapidly since inception via its “freemium” SaaS business model. The Series E funds will help Trustpilot strengthen its market leading position through investment in marketing, its technology platform and people and accelerate its drive to set new standards for transparency in the review space.
The investment follows another milestone year for Trustpilot. The company now has more than 56 million reviews of over 265,000 company domains from 150+ countries. Today, Trustpilot is one of the top 1% most visited websites worldwide and a leader in the UK, other European markets and North America. Its brand is seen more than 3.5 billion times online each month.
Feedback shared through the Trustpilot platform empowers consumers to get closer to the companies they buy from, make better buying decisions and influence others. For companies, openly collecting consumer reviews on Trustpilot not only helps them grow and show brand trust but also delivers tangible, measurable business results such as actionable customer insights, helping more consumers discover their brand online (including through the strongest SEO power of any comparable platform) and turning significantly more browsers into buyers.
“There has never been a greater need for trust online and in the world, which is why we keep pushing the boundaries of what’s possible in the review space,” said Trustpilot founder and CEO, Peter Mühlmann. “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.”
‘’We at SEED are impressed by Peter and the Trustpilot team and are happy to welcome Sunley House as new investor ’’ Says General Partner at SEED Capital, Lars Andersen, and comments: ‘’With this new investment, Trustpilot can unleash its full potential and strengthen the position as the global leader in trust and transparency.’’
Also read: Trustpilot: rewind to 2007