Netherlands-based e-commerce feed management and PPC automation solution for digital marketers, brands and online retailers, Channable, announced on Tuesday that it has raised over €55M in a Series B round of funding led by Partech along with existing investor Peak.
Channable claims it is going to utilise the funds to fuel global expansion, accelerate R&D efforts, and build the company’s global sales and marketing momentum.
Born in San Francisco and Paris, Partech is one of the most active tech investors in the world. Its current portfolio includes 200+ companies in more than 30 countries, of which 14 are valued at more than $1B.
Bruno Crémel, General Partner at Partech, says, “The shift to multichannel commerce and the convergence of marketing channels and commerce channels creates complexity for merchants. Channable’s powerful, yet easy-to-use solutions allow brands and retailers to efficiently increase their audience and grow revenues. We are proud to be partnering with this team as they grow and expand into new markets – especially in Europe and North America!”
Peak is an early-stage venture capital fund based in Amsterdam, Berlin, and Stockholm. Backed and run by experienced entrepreneurs, the fund specializes in marketplace, platform, and SaaS companies. Peak has invested in over 40 companies, including Studocu, Creative Fabrica, Catawiki, Trengo, Ocean, Floryn, Heja, Workwize, United Wardrobe, Mibo and GraphCMS.
Channable: What you need to know
Channable was founded in 2014 by Rob van Nuenen, Stefan Hospes and Robert Kreuzer. It claims to provide an intelligent, scalable and simple-to-use solution for data feed management and PPC automation that enables online retailers, brands and agencies to sell, market and advertise their products globally.
It connects online retailers and marketers with global marketplaces, including Amazon, Google Shopping, Facebook, and Microsoft Advertising. Channable’s solution powers sales and optimises e-commerce performance with actionable insights to ensure peak performance.
Since its inception, Channable has amassed over 6,000 customers globally, processing more than 55 billion items per day (representing a 91 percent increase year over year) via 2,500 local and global channels across comparison websites, marketplaces, search engines, and social networks.
The company has also increased its staff by 60 percent globally. It now employs about 170 people from 30 nationalities, and has offices in Berlin, London, New York City, Utrecht, and Logroño.
Help deal with high volumes
According to the company, as e-commerce continues to grow exponentially, digital marketers, brands and online retailers are increasingly challenged with the immense amount of products to list, advertise and market on a daily basis.
This is where Channable’s solutions such as product feed management, PPC ad campaign automation, order and stock synchronisation and re-pricing products in real-time come in handy.
“We want to establish Channable as essential for any e-commerce company,” says Rob Van Nuenen, Co-Founder and CEO of Channable. “Considering the increased demand in e-commerce it can get complicated without the right tools. This latest round of funding will help us make e-commerce easier by serving more clients globally, while building on our innovative, ready-to-use technology, and best-in-class support. We are proud to have partners like Partech and Peak as they bring their extensive knowledge.”
“E-commerce companies are dealing with increasing product and data volumes. Channable continues to develop the necessary solutions enabling these companies to scale and easily handle and grow their business,” says Stefan Bary, Managing Partner at Peak.