The investment will enable Productsup to continue product development and M&A activity that will further its global expansion and its mission to enable brands, retailers, marketplaces and service providers to tell a cohesive story across all trade channels and gain more customers.
BERLIN, April 6, 2022 /PRNewswire/ — Productsupthe leader in P2C software, today announced a Series B funding round for over $70 million (€65m) driven by Bregal Milestonea European leader in technology development capital, with the participation of its existing investor, Capital of Nordwind. The investment will allow Productsup to continue its product development, target merger and acquisition opportunities, strengthen its network of partners and expand into new markets to solidify its position as the leading global solution for the commercial success.
“What was once a simple task of bringing products to consumers has become an extremely complex process for businesses today,” said Vincent Peters, CEO of Productsup. “We are in a new era of commerce where outdated approaches are no longer effective. This funding will enable us to work towards our mission to radically rethink how businesses manage their products within the commerce ecosystem, ultimately enabling our customers to turn complexity into a competitive advantage.”
With global e-commerce sales expected to exceed 5 trillion dollars by 2022, the market is full of opportunities for business enterprises to expand. Corn research shows that more than a third (37%) of decision makers are concerned about the consistency of product information delivered through their technology stack. Productsup fills this gap by working with over 900 global brands, retailers, marketplaces and service providers to help them take control of their omnichannel strategy to gain market share. Processing more than two trillion products per month, Productsup’s Product-to-consumer (P2C) platform is the only solution available that provides a holistic view of data across every product touchpoint. The platform enables businesses to tell a consistent product story across more than 2,500 marketing and sales channels, resulting in higher conversions and reduced time to market.
Productsup has experienced a recent business acceleration through its unique set of enterprise capabilities, increasing net new ARR by more than 60% in the last twelve months. Productsup currently has a gross revenue retention rate of 90% and a net revenue retention rate of 120%. Beyond the financial gains, the company increased its workforce from 150 to 300 employees, expanded its management team and was named a leader in P2C Management by Constellation Research all over the past year.
“Our decision to partner with Productsup was based on its long-term, sustainable trajectory as an essential enterprise-grade commerce solution,” said Cyrus Shey, managing partner of Bregal Milestone. “While alternative vendors primarily offer point solutions, Productsup uniquely addresses the needs of the evolving commerce market for a single view of all product information value streams and provides seamless, end-to-end control. at the end of product data – across all global channels and in real time.”
Productsup will work closely with Bregal Milestone’s in-house value creation team, Milestone Performance Partners, to identify and invest in various product development initiatives to further accelerate Productsup’s growth. As part of the funding round, Bregal Milestone will partner with existing investor Nordwind Capital which originally invested in the company in 2017 and still retains a majority stake in Productsup after the transaction.
“This investment justifies the effort and hard work we have put in to transform Productsup into a leader in the P2C category,” said Christian Planger, managing partner of Nordwind Capital. “We are delighted to partner with a renowned technology-focused growth capital firm like Bregal Milestone to continue to build on the company’s successes and accelerate its growth globally.”
“With technological advancements like the Metaverse on the horizon, these are exciting times for the world of commerce,” said Marcel Hollerbach, co-founder and chief innovation officer at Productsup. “We’re about to enter a new era of innovation, so it’s our priority to ensure businesses are equipped to manage the proliferation of shopping channels and experiences to become the disruptors – and not disturbed them.”
For more information about Productsup, please visit www.productsup.com.
Productsup frees brands, retailers, service providers and marketplaces from commercial anarchy. Productsup’s Product-to-consumer (P2C) platform processes more than two trillion products per month, enabling the company’s long-term success as the only global, strategic and scalable platform managing all product-to-consumer information value chains on any platform, any channel. , any technology. Founded in 2010 and based in Berlin, Productsup has more than 250 employees in offices around the world and works with more than 900 brands, including IKEA, Sephora, Beiersdorf, Redbubble and ALDI. Learn more about www.productsup.com.
About Nordwind Capital (NC Growth Fund)
Nordwind Capital is a German technology-focused growth capital investor focused on leading fast-growing technology companies headquartered in Germany, AustriaWhere Switzerland. Nordwind Capital currently manages €500 million in assets across the core software, e-commerce, media and communications, and technology services sectors. The firm supports companies whose equity investments range from 10 to 40 million euros.
About Bregal Milestone
Bregal Milestone is a leading European technology development capital firm dedicated to making investments in ambitious, high-growth technology companies. The company provides growth capital and strategic assistance to support market-leading companies in the technology and technology-enabled services sectors. Bregal Milestone is part of Bregal Investments, a leading global investment firm that has invested over €15 billion to date.
For more information, please visit www.bregalmilestone.com.
CONTACT: Megan Perkins, [email protected]