Trustpilot, Danish consumer review platform, has just closed an 18 million euro funding deal, reports TrendsOnline. The series C investment round was led DFJ Esprit in London and DFJ in Menlo Park, Calif. with participation from all existing investors: Seed Capital, Index Ventures and Northzone, making this investment the largest in Denmark so far.
“Trustpilot’s unique technology links each consumer review directly to the purchase transaction. Combined with our intelligent fraud detection, the quality of the reviews on the Trustpilot platform is unsurpassed. This new investment will enable us to expand to new markets and continue to improve the power and potential of online reviews for consumers and our business customers,” comments Peter Mühlmann, Trustpilot’s CEO and founder in press release from SEED Capital.
Consumer are increasingly looking for advice in their online shopping decisions. Trustpilot’s technology allows companies to respond to this need and build credibility in communication with customers through integration of reviews into their platforms.
“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,” says Krishna Visvanathan, DFJ Esprit partner.
Reflecting upon some numbers, Trustpilot has come a long and impressive way. Founded in 2007, the company currently has 160 employees across Copenhagen, London and New York. It provides over 70,000 ecommerce businesses with TrustScores based on more than six million reviews, adding 2,000 new merchants and over 300,000 new consumers to the Trustpilot community every month.