Summit Partners is leading an investment round to further accelerate Akeneo’s product development roadmap, bolster strategic hires and support international growth
BOSTON –News Direct– Akeneo
Akeneo, a global leader in product experience management (PXM) and product information management (PIM), today announced $135 million in Series D funding. The funding round is led by global growth equity investor Summit Partners. Existing investors Alven and Partech are also participating in this latest round, bringing Akeneo’s total investment raised to $196 million. The new capital will be used to continue momentum through an accelerated product development roadmap, the hiring of key executives and the expansion of Akeneo’s strategic partnerships.
Akeneo is on a mission to fundamentally disrupt the product information category and better meet the rapidly growing needs of modern omnichannel brands and retailers. While many brands understand that PIM provides an important foundation for creating the engaging product experiences needed to turn first-look browsers into repeat buyers and loyal customers into lifelong brand advocates, many lack the source. unique truth to transform this vision into reality. Akeneo’s PXM solution is designed to help these companies rethink their operations – making PIM the cornerstone of their business success and helping to influence new growth opportunities and drive revenue across their operations and sales channels. .
“The customer journey has changed in the blink of an eye, and we believe the most agile and effective way to manage this ever-changing dynamic is to invest in creating product experiences that resonate, whatever where the customer is browsing or buying,” Fred said. de Gombert, CEO and co-founder of Akeneo. “Brands and retailers invest as much in creating and managing their product information as they do in managing customer information, and we see this trend reflected in our platform adoption rates, the addition of new customers and revenue growth. We are extremely grateful to our investors and partners; this momentum would not be possible without their continued support.
Leading global brands such as Fossil, 1-800 Flowers, and John Deere leverage Akeneo’s PXM Studio platform to centralize product information, quickly measure and enrich product data quality and consistency, and deliver engaging, consistent and personalized product experiences across all sales channels and touchpoints. ; ultimately to increase sales, reduce time to market and increase productivity.
The latest funding round will allow Akeneo to further develop its PXM Studio platform, integrating key product information such as real-time product availability and inventory, dynamic pricing, order management, competitive products, merchandising information, and user-generated content, with a goal of bringing new offerings to market that solidify this more dynamic and comprehensive picture of product information and powerful analytics and insights .
The company has gained strong momentum since its Series C in September 2019 and today serves more than 600 customers in 40 countries. Akeneo’s open source platform has been downloaded over 80,000 times, with installs growing at a CAGR of over 170% over the past seven years. Additionally, Akeneo’s partner ecosystem grew by 30% in 2021 and the company’s workforce grew by 40% to more than 300 employees in nine countries during the same period.
“Brands and retailers today understand the importance of delivering personalized experiences rich with relevant product content at every stage of the customer’s buying journey,” said Steffan Peyer, Managing Director of Summit Partners. “The Akeneo team has been visionary in extending beyond PIM and setting a high standard in PXM, an approach we believe is necessary for B2B and B2C businesses. As seasoned technology investors, we’ve been impressed with the company’s momentum and ability to scale globally, and look forward to supporting the team as it continues to strengthen. Akeneo’s leading position in the market.
Akeneo announces Series D funding at Unlock 2022, the annual global summit of the PIM and PXM community taking place March 15-16 in Paris. This year marks the in-person return of Unlock, which went virtual in 2021, with keynote presentations from Akeneo partners and clients from LVMH Group, Boohoo, Accor, Rémy Cointreau, Royal Canin, and more.
To learn more about Akeneo, visit www.akeneo.com.
Akeneo is a global leader in Product Experience Management (PXM) that helps companies with products unlock growth opportunities by delivering a consistent and compelling product experience across all channels, including e-commerce, mobile , printing, point of sale and beyond. With its open platform, state-of-the-art PIM, add-ons, connectors, and marketplace, Akeneo PXM Studio dramatically improves product data quality and accuracy, simplifies catalog management, and accelerates product information sharing. between channels and regions.
Leading global brands, manufacturers, distributors and retailers, including Thras.io, Staples Canada, boohoo.com and Air Liquide, trust Akeneo to scale and personalize their omnichannel commerce initiatives. Thanks to Akeneo, brands and distributors can improve the customer experience, increase sales, reduce time to market, go global and increase team productivity. For more information: https://www.akeneo.com
About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that currently manages more than $42 billion in capital dedicated to growth stocks, fixed income and public equities. Summit invests in growth sectors of the economy and has invested in more than 550 companies in technology, healthcare and other growth sectors. These companies have completed more than 175 public equity offerings and more than 200 have been acquired through mergers and strategic sales. Summit has offices in North America and Europe and invests in companies around the world. For more information, please visit www.summitpartners.com or follow on LinkedIn
6th North Agency for Akeneo, Nick Eghtessad
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