Press releases
Channable Secures over €55M in Series B Funding Led by Partech
February 1, 2022
Channable, a leading global, e-commerce feed management and PPC automation solution provider for digital marketers, brands and online retailers, announces that it has received over €55M in Series B funding led by Partech with existing investor Peak.
For Immediate Release
Channable Secures over €55M in Series B Funding Led by Partech Scaling E-commerce Marketing for Digital Marketers, Brands, and Online Retailers
Investment Fuels U.S. and International Expansion Efforts, R&D and Builds on Sales and Marketing Momentum
Utrecht, The Netherlands – February 1, 2022 – Channable, a leading global, e-commerce feed management and PPC automation solution provider for digital marketers, brands, and online retailers, announces that it has received over €55M in Series B funding led by Partech with existing investor Peak. This latest round of capital fuels global expansion – especially its newly opened North American headquarters in New York, accelerates the company’s R&D efforts, all while building on the company’s global sales and marketing momentum.
Founded in 2014 by Rob van Nuenen, Stefan Hospes and Robert Kreuzer, Channable enables e-commerce companies across the globe to effectively sell, advertise, market and manage their online sales. Since its inception, the company has amassed over 6,000 customers globally, processing more than 55 billion items per day (representing a 91 percent increase year over year) via 2,500 local and global channels across comparison websites, marketplaces, search engines, and social networks. The company has also increased its staff by 60 percent globally.
“We are excited to partner with Rob, Robert, Stefan and the team at Channable,” says Bruno Crémel, General Partner at Partech. “The shift to multichannel commerce and the convergence of marketing channels and commerce channels creates complexity for merchants. Channable’s powerful, yet easy-to-use solutions allow brands and retailers to efficiently increase their audience and grow revenues. We are proud to be partnering with this team as they grow and expand into new markets – especially in Europe and North America!”
Supporting its expansion efforts, Channable tapped industry veteran Michael O’Neal who oversees the U.S. office in New York. As VP of Business Development, Michael will lead U.S. sales efforts to bolster Channable’s revenues in 2022.
"E-commerce companies are dealing with increasing product and data volumes. Channable continues to develop the necessary solutions enabling these companies to scale and easily handle and grow their business,” says Stefan Bary, Managing Partner at Peak. "With its best-in-class technology, we're excited to further fuel the company’s growth, as its vision has demonstrated a positive impact on today’s digital marketers, brands and online retailers."
As e-commerce continues to grow exponentially, digital marketers, brands and online retailers are increasingly challenged with the immense amount of products to list, advertise and market on a daily basis. Channable’s unique solutions include product feed management, PPC ad campaign automation, order and stock synchronization and re-pricing products in real-time —making the impossible possible.
"We want to establish Channable as essential for any e-commerce company," says Rob Van Nuenen, Co-Founder and CEO of Channable. "Considering the increased demand in e-commerce it can get complicated without the right tools. 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. We are proud to have partners like Partech and Peak as they bring their extensive knowledge to the table taking companies like Channable to the next level.”
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About Channable
Channable provides an intelligent, scalable and simple-to-use solution for data feed management and PPC automation enabling online retailers, brands and agencies to sell, market and advertise their products globally. Spanning hundreds of directories, search engines, e-commerce sites and social networks, Channable powers sales and optimizes e-commerce performance with actionable insights to ensure peak performance. With over 6,000 clients worldwide using its product data feeds connections, price comparisons, order synchronization and affiliate platforms, Channable connects online retailers and marketers with global marketplaces, including Amazon, Google Shopping, Facebook, and Microsoft Advertising.
Consisting of over 170 professionals and more than 30 different nationalities, Channable started in the Benelux evolving into a global company with offices in Berlin, London, New York City, Utrecht, and Logroño. For more information, go to https://www.channable.com/.
About Partech
Born in San Francisco and Paris, Partech is one of the most active tech investors in the world, bringing together capital, operational experience, and strategic support for entrepreneurs at seed, venture and growth stages. Its current portfolio includes 200+ companies in more than 30 countries, of which 14 are valued at more than $1B: Alan, Bolt, Cazoo, Jellysmack, Made.com, ManoMano, Merama, People.ai, Rohlik, Sorare, Toss, Wave, WorldRemit, Xendit. For more information, go to https://partechpartners.com.
About Peak
Peak is an early-stage venture capital fund based in Amsterdam, Berlin, and Stockholm. Backed and run by experienced entrepreneurs, the fund specializes in marketplace, platform, and SaaS companies. Peak has invested in over 40 companies, including Studocu, Creative Fabrica, Catawiki, Trengo, Ocean, Floryn, Heja, Workwize, United Wardrobe, Mibo and GraphCMS. To learn more about Peak, go to https://peak.capital/.
Press and Analyst Inquiries:
180 Marketing Communications (on behalf of Channable)
Jennifer Handshew
M: +1 (917) 359-8838
jennifer@180-mktg.com
Partech
Isabelle Tresson, Communications and Marketing Lead
itresson@partechpartners.com
Peak
Stefan Bary, Managing Partner
stefan@peak.capital