Akeneo's Series D Funding Round To Help Accelerate Its Growth
Retail Tech Insights | Sunday, April 11, 2021
Akeneo's recent funding round will enable the company to accelerate its product development roadmap, strengthen strategic hiring, and expand internationally.
Fremont, CA: "Brands and retailers are becoming as invested in building and managing their product information as they are in managing customer information, and we see this trend playing out in our platform adoption rates, new customer additions, and revenue growth. We are extremely grateful to our investors and partners; this momentum would not be possible without their continued support," comments Fred D Gombert, Akeneo’s CEO and Co-Founder. Akeneo, a global leader in product experience management (PXM) and product information management (PIM), announced a $135 million Series D funding round. Summit Partners, a global growth equity investor, is leading the investment round. Alven and Partech, who have previously invested in Akeneo, are also joining in this latest round, bringing Akeneo's total investment to $196 million. The additional funding will be used to speed the development of new products, hire key executives, and expand Akeneo's strategic alliances.
Akeneo is on a mission to radically disrupt the product information category and enable modern multichannel companies and retailers to service their fast rising needs better. While many brands recognize the value of PIM in enabling them to create the engaging product experiences necessary to convert first-time browsers into repeat shoppers and loyal customers into lifelong brand champions, many lack the single source of truth necessary to put that vision into reality. Akeneo's PXM solution is designed to assist these businesses in reimagining their operations, establishing PIM as a critical component of commercial success, and influencing new growth prospects and revenue generation throughout their operations and sales channels.
Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.
Leading global brands such as Fossil, 1-800 Flowers, and John Deere use Akeneo's PXM Studio platform to centralize product information, rapidly assess and enrich the quality and consistency of product data, and deliver compelling, consistent, and personalized product experiences across all sales channels and touchpoints; ultimately increasing sales, reducing time to market, and increasing productivity.
The latest funding round will enable Akeneo to further develop its PXM Studio platform by incorporating critical product information such as real-time availability and inventory, dynamic pricing, order management, competitive product insights, merchandising information, and user-generated content, with the goal of bringing new offerings to market that consolidate this more dynamic and complete picture of product information alongside powerful analytics and insights.
Check Out This : Leadership Development
More in News


