Lengow secures €10 million funding
Lengow, a company that sells ecommerce feed management software, has secured 10 million euros in Series B funding. The money, from European investors Serena Capital, BPI and Alven Capital, will be used to further expand its international growth.
Lengow now has raised 11.4 million euros since its launch in 2009. Previous rounds were led by Kima Ventures and, again, Alven Capital. In its press release [pdf] says the recent backing represents the biggest round of funding ever for a European company in this sector. “It will enable us to extend our technology leadership and accelerate international expansion”, the French company says.
Lengow’s future plans
Lengow wants to increase its presence in the United Kingdom and Germany partly by making some strategic acquisitions, as well as have a physical presence in the US and Asia. The number of employees working for Lengow is expected to double by the end of next year, while the company thinks it will grow at a rate two or three times higher than previously. It has 30 job openings scheduled by the end of this year and it expects to reach 180 employees next year.
“Today it is quick and easy to create an online shop. However, being visible and efficient is more complicated”, Mickael Froger, co-founder and CEO of Lengow says. “We have one aim: to make online selling simple. In our ever-changing industry, the only way for retailers to stay ahead is by working internationally and working smarter. We are empowering people, businesses and brands to sell, connect and succeed across the world like never before.”
Lengow is a SaaS solution for online merchants that helps them optimize their visibility and profitability across shopping engines, affiliate networks, marketplaces and more. It was founded in 2009 and currently has 3500 clients in 45 countries worldwide.