Productsup plans to use the funds to accelerate R&D and product development. Here are the top-line bullets you need to know.
Productsup, a provider of product information management (PIM) software, has raised $70M in a Series B that drew participation from Bregal Milestone and Nordwind Capital.
How’s the company performing?
- Germany-based Productsup helps brands and retailers integrate their product data from across channels, and it also provides feed management, seller and vendor onboarding, and social commerce services, among others.
- The company processes 2T+ products each month, and it currently caters to 900+ customers, including IKEA, Sephora, ALDI, Beiersdorf, and Redbubble.
- Over the past year, its ARR has grown 60%.
- The company’s employee headcount currently sits at 300.
Source: Productsup
Why does the market matter?
- The product information management market is expected to reach a value of $33.8B by 2026, growing at a CAGR of 23.3%, according to Mordor Intelligence.
- The widespread proliferation of e-commerce touchpoints has contributed to market growth, as companies are turning to solutions to help manage their channels and the increasing amount of data that they generate.
- E-commerce adoption has increased considerably amid the pandemic — in fact, e-commerce sales shot up 35% YoY in 2021, according to McKinsey. This has compelled companies across industries to seek out e-commerce enablement tools to develop and enhance their digital properties.
