Yieldify, a predictive marketing technology startup that enables brands to lift on-site revenue by increasing conversion rates, today announced that it has officially opened a technology and development hub in Porto, Portugal. The Porto development team will focus on driving innovation for Yieldify’s predictive marketing algorithm, exit intent tracking and advanced analytics.
Yieldify’s new office, which plans to hire 40 engineers and designers before the end of 2015, will be located at the Science and Technology Park of the university of Porto (UPTEC). The Porto office launch marks Yieldify’s 5th new market launch in two years, with existing offices in London, New York, Berlin, Sydney and now Porto.
“Yieldify is a champion of innovation and disruption and the city of Porto, which is home to one Europe’s fastest growing tech hubs, embodies these core values,” said Meelan Radia, Co-Founder and CTO of Yieldify. “We’re excited to build an engineering hub in Portugal to support our ambitious growth plans and take our technology to the next level. The vision for the Porto office is to build an engine of product innovation, design and development for the company.”
E-commerce continues to be one of the fastest growing global industries, with the retail market alone predicted to reach $28.3 trillion by 2018. Yieldify empowers digital marketers to adapt and predict to visitors’ intent across all devices, giving brands the speed and agility to create personalized campaigns without complex integrations with yet another cloud platform.
“We’re delighted to welcome Yieldify’s new tech hub on our campus, said Clara Gonçalves, Executive Manager of UPTEC. “Portugal is quickly becoming a centre of technological innovation, with tech knowledge exports growing by 30% in the last six years. UPTEC’s main goal is to accelerate the region and country’s knowledge economy by creating a cluster of world class tech talent. With over 150 startups exporting to over 120 countries on-site, the opportunity for knowledge sharing and collaboration is growing every day, and companies like Yieldify both drive and contribute to this wealth and expertise.”
Launched just over two years ago in London by entrepreneurial brothers, Jay and Meelan Radia, the company has experienced extraordinary growth, with annual revenues growing by 480% year on year from April 2014. Yieldify has expanded to over 135 employees worldwide to date and now works with more than 1,000 global brands, including Marks and Spencer, L’Occitane, Kiehl’s, Monarch and Birchbox.
Yieldify, London’s fastest growing SaaS company, recently closed $11.5 Million in Series A financing led by Google Ventures and SoftBank Capital. This marked Google Venture’s second investment into the European market.