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Customer reviews site wins more funding

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Customer opinion website Reevoo.com has won a second round of funding as it looks to speed up its European growth. The latest installment takes the total the business has raised to date to more than £7m.

The investment comes from existing investors Eden Ventures, Banexi Ventures and business angel Andrew Phillipps, and will also be used to improve the site’s social functionality.

Its co-founder Richard Anson said: “I am delighted with the support from our backers as this investment shows the confidence we all have in Reevoo.com’s continued success. Our team is hugely excited to be taking the business to the next level and is looking forward to expanding further across Europe.”

Reevoo.com was founded in 2005 and now has more than a million reviews of 75,000 electrical products from verified buyers. The reviews come from people who have recently bought an electrical item and are put in touch with Revoo.com by the retailer it was bought from.

Consumers view reviews more than 60 million times a month, and can now see them in any language through Google Translate.

The business has recently won European deals with electrical manufacturers and retailers from Sony and Toshiba to Kodak and Best Buy and supports more than 180 retailers, manufacturers and publishers.

Ben Tompkins, partner at investor Eden Ventures, said: “We believe opportunities in social commerce are enormous and we look forward to seeing Reevoo.com continue to innovate and build out its brand.”

Phillippe Herbert, partner at Banexi Ventures, said the site had achieved a lot to date. “The expansion into Europe clearly shows its growth potential and the added value which the business offers to retailers and manufacturers on a pan-European scale.”

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