Akeneo, an open-source product information management (PIM) software provider founded in France in 2013, has raised $13 million from investors Partech Ventures and Alven Capital.
The company plans to use the new funding to double its R&D team and accelerate international sales.
With Akeneo, brands can streamline detailed, high-quality product data across sales channels in a way designed to help manufacturers and e-Commerce companies better manage and market products, improve conversion rates, enhance SEO and improve productivity.
Partech Ventures is the majority investor in the funding round, and it sees strategic PIM as a growing competitive advantage for e-Commerce players: “With the boom of product offers and distribution channels, managing product data is a major issue with a measurable impact on sellers' turnovers,” said Reza Malekzadeh, a Partner at Partech Ventures in a statement.
PIM Software Provider Akeneo Secures $13 Million