Akeneo lands $135 million in investment round led by Summit Partners
Product experience management (PXM) and product information management (PIM) specialist, Akeneo, has bagged $135 million in Series D financing.
The funding round was led by Summit Partners.
Existing investors Alven and Partech also participated, bringing Akeneo’s total investment raised to $196 million.
The new capital will be used for an accelerated product development roadmap, key executive hires, and expansion of Akeneo’s strategic partnerships.
“The customer journey changed in the blink of an eye, and we believe the most nimble and effective way to manage these ever evolving dynamics is to invest in creating product experiences that resonate no matter where the customer is browsing or buying,” says Fred de Gombert, CEO and Co-founder at Akeneo.
“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.”
“Brands and retailers today understand the importance of delivering personalised experiences that are rich with relevant product content at every step along the customer buying journey,” comments Steffan Peyer, Managing Director at Summit Partners.
“The Akeneo team has been visionary in expanding beyond PIM and establishing an elevated standard in PXM, an approach we believe is necessary for both B2B and B2C companies alike.”
“As seasoned technology investors, we have been impressed by the company’s momentum and ability to scale globally, and we look forward to supporting the team as they continue to build Akeneo’s leadership position in the market.”
