Channable raises €55 million
Ecommerce feed manager Channable has raised 55 million euros. The Dutch scale up will use the funds for product development and further global expansion, eyeing markets in North-America and Europe.
Channable helps retailers sell products through online marketplaces and advertising platforms such as Amazon and Google Ads. The company was founded in 2014 and has racked up 6 thousand customers, including Philips, Deloitte and Rituals, especially in the Netherlands, Belgium and Luxembourg.
European and North-American expansion
It is a sizable investment for the Dutch tech sector, raised by Partech and existing investor Peak. Channable says it wants to use the funds for worldwide expansion and marketing first and foremost.
Channable has 170 employees – a 60 percent increase compared to last year.
“We are already market leader in the Benelux and strongly focusing on conquering the rest of the world”, says Rob van Nuenen, co-founder and CEO of Channable. The company is eyeing new European and North-American markets, adds Bruno Crémel, partner of Partech. Channable now has 170 employees – a 60 percent increase compared to last year.
In addition, the investment will be put towards product development, the company says. Channable’s online marketing tool currently processes over 55 billion items a day through 2.500 sales and advertising channels, such as eBay and Google Ads. Aside from integrating product feeds, merchants can reprice automatically and synchronize order and stock.
The tool processes over 55 billion items a day through 2.500 channels.
“Considering the increased demand in e-commerce, it can get complicated without the right tools”, says CEO Van Nuenen. “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.”
750 thousand euros
Over five years ago, Channable previously raised 750 thousand euros from Peak. At the time the injection was used for expansion into France, Spain, Italy and the United Kingdom. In 2019 the company already moved into the North-American market by adding Amazon, eBay and Walmart to their available platforms.