A report last year said Trustpilot's latest funding exercise would be treated as a precursor to a stock market listing.
Reviews website Trustpilot said Tuesday that it has raised $55 million in a funding round aimed at fueling growth.
Copenhagen, Denmark-headquartered Trustpilot lets people post reviews of their experiences with a range of services from pet sitters to utility providers. It makes revenue from selling software-as-a-service to companies that pay to display their review scores online and gain insights from the ratings data.
But Trustpilot said there are no plans at this stage of a flotation, although the firm believes it could be an attractive IPO candidate in the future. Numerous investigations into Trustpilot and services like it have revealed that reviews platforms have hosted fake reviews. Meanwhile, reports have claimed that businesses try to game the system by using Trustpilot's flagging system to suppress potentially negative reviews.
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