Summit, Alven et al. invest $46m in Akeneo series-C

Existing investors Alven, Partech and Salesforce Ventures, as well as Akeneo board member Stephan Dietrich, also took part in the round. 

With the new funding, Akeneo intends to continue to invest further in its sales and marketing efforts in the US, while doubling down on research and development, including product data intelligence to boost product information automation and monitor product experience quality.

The company also plans to hire 100 people in the upcoming year to support this next round of rapid growth.

The fresh capital comes on the heels of the acquisition of AI startup Sigmento, the integration with Salesforce Commerce Cloud, and a strategic premier technology partnership with Magento.  

Previous funding
Early-stage investors Kima Ventures and Nestadio first provided a €350,000 seed round in 2012. The following year, Alven Capital led a second $2.4m round of funding. 

A third round of funding for Akeneo took place in 2017, when Partech Ventures and Alven led a £10.5m ($13m) series-B round for Akeneo, bringing the total raised by the startup to around $15m. 

Company
Akeneo's open source software-as-a-service platform helps both B2C and B2B brands deliver consistent and enriched customer experiences across sales channels, including e-commerce, mobile, print, and retail points of sale. Akeneo has around 60,000 live implementations and serves international brands including Sephora, Fossil and Staples.

Headquartered in Nantes, Akeneo employs 180 people in France, the US, Germany, the UK, Spain, and Israel. The business was founded in 2012.

People
Summit Partners – Steffan Peyer (principal).
Akeneo – Fred de Gombert (CEO, co-founder).

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• Expansion
• France
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• Summit Partners
• Alven Capital