Nantes-based Akeneo raises 1.8 million euros for its open source PIM solution

by bold-lichterman

Akeneo has just raised 1.8 million euros from Alven Capital. In 2013, the Nantes start-up had already completed a first seed funding round of 350,000 euros with Kima Ventures and Nestiado Capital. She publishes a solution open source of product information management (PIM) which helps merchants to centralize their information (marketing, sales, techniques, etc.) from their product catalog.

30% of turnover abroad

To do this, the software extracts data from various sources (databases, ERP, etc.) before prioritizing them, or even eliminating those that are unnecessary. They are then enriched and distributed to improve sales or catalog management. The company counts among its customers many players in mass distribution such as Cora, Auchan Drive, but also Feu Vert and Lagardère Active (media).

“The financing of Alven Capital will aim to accelerate our international development, with the opening, in 2015, of offices in Germany and the United States, where we already have large clients and where the management markets of product catalog are particularly promising ”explains Frédéric de Gombert, co-founder of Akeneo, who hopes that the international market will represent more than half of its turnover from 2015, and 70% in the long term, against 30% today.

The choice of open source

Founded in 2013 by Frédéric de Gombert, Benoît Jacquemont, Nicolas Dupont and Yoav Kutner (the American co-founder of CMS Magento acquired in 2011 by eBay), the company, which currently has 15 employees, will also hire 5 people from here to end of the year, and plans to double its workforce next year.

“The management and management of product data are a lever for growth and productivity that should no longer be reserved for large industrial groups. This is why we have decided to accompany and support the development of Akeneo and its new generation PIM solution which has both economic (accessible costs and reduced installation times) and technical (community expert developers and interoperability with market tools) linked to the choice of open source, ”explains Jeremy Uzan of Alven Capital.

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