Yottaa, a SaaS platform for accelerating eCommerce, saw its annual recurring revenue double last year, experiencing a 53% year-over-year increase.
The web and mobile optimization services company was founded in 2009 by Coach Wei, a graduate of Tsinghua University and MIT, and Robert Buffone, a mathematics graduate from SUNY Brockport. Yottaa initially had offices in Boston and Beijing, and officially launched its platform in 2013. In late 2016, it announced it had raised $13M in funding and the appointment of Rich Stendardo as CEO “to further grow the company’s leadership in eCommerce acceleration”.
Yotta’s 2017 was certainly a banner year for the company. In addition to seeing its annual recurring revenue double, the company also saw an 82% year-over-year total booking increase and over 100% year-over-year Q4 bookings increase. It also grew its headcount by 30%.
Companies that Yottaa signed in 2017 include Bombas, Eve Mattress, MattressFirm, Mixbook, Road Runner Sports, Rockport, Shop LC, The Container Store, Thursday Boot Company, ToolTopia, and UNTUCKit.
Shop LC, a value-conscious retailer of jewellery, beauty, home décor and lifestyle products, reported a 50% improvement in performance on its desktop and mobile devices. eBags said Yottaa had helped eBags accelerate its mobile website by 30%, leading to a 10% growth in mobile conversions.
In addition, Yottaa launched Rapid CTRL, which helps online retailers improve web performance by improving their ability to manage and sequence third party eCommerce applications. “On average”, the company says that “customers that have deployed Yottaa’s Rapid technology have avoided millions of customer experience violations, decreased page load time by 3.27 seconds, and increased conversion rates by 10.2%”.
Yottaa also produced two research reports in 2017, increasing its profile within the industry.
In June, it published a research report titled “eCommerce Performance: What Works, What Doesn’t, What’s Next?”, which evaluated the page speed performance and end user experience of 80 major retail websites, concluding that most eCommerce sites are “disturbingly slow”.
Later in 2017, Yottaa’s second research report was released, titled “2017 eCommerce Leaders Survey: Site Performance & Innovation Trends.” 125 eCommerce leaders were interviewed to determine how web performance affects online retail, leading to the conclusion that 97% of retailers believe that web performance has a direct impact on their online revenue.
At the year’s end, the company announced it had won a 2017 Technology of the Year Award from MassTLC. “The Mass Technology Leadership Awards celebrate the extraordinary leaders and innovators whose work is at the heart of our innovation economy,” said Tom Hopcroft, CEO, MassTLC. “Each year, I am honored to recognize the hardworking visionaries and companies, such as Yottaa, that are leading the state – and the world – towards a better future.”
“2017 was a banner year for Yottaa,” said Rich Stendardo, CEO. “After closing the year with record revenue, fantastic new customer wins, a new product in Rapid CTRL, two outstanding thought leadership reports, and a Technology of the Year Award, Yottaa is again poised for record growth in 2018.”