Review site Trustpilot raises €48 million
International review website Trustpilot has raised 55 million dollar – about 48.5 million euros – during a Series E investment round, led by Sunley House. With the fresh capital, Trustpilot wants to strengthen its position as market leader in several countries by investing in marketing, personnel and its technology platform.
Mohammed Anjarwala, managing director at Sunley House, says Trustpilot offers companies a way to improve their digital marketing efficiency and enhance customer engagement. “We believe that the company has significant opportunities for continued growth, both in its core UK market and internationally.”
Market leader in several countries
In the United Kingdom, but also in the US and several other countries (across Europe), Trustpilot claims to be market leader. According to the company it’s even one of the top 1 percent most visited websites worldwide. The online platform was founded not so long ago, in 2007.
Making the world of reviews more transparent
In the press release, Trustpilot emphasizes that not only it wants to grow further, but it also wants to “set new standards for transparency in the review space”. That’s a noble thought, given the fact there have been some major negative press concerning some review platforms sharing fake reviews or being just not transparent enough. Complaints came from competing platforms, unhappy companies, consumers and consumer organizations.
“There has never been a greater need for trust online and in the world”, Trustpilot founder and CEO Peter Mühlmann says. “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.”
58 million reviews through Trustpilot
Trustpilot now has over 58 million reviews of more than 265,000 company domains from about 150 countries. Its brand is seen more than 3.5 billion times online each month.