Rangespan Ltd., a London, UK-based e-commerce start-up, has raised over $5m in funding.
The round was led by Octopus.
Founded in January 2011, by former Amazon.com executives Ryan Regan and Matt Henderson, Rangespan combines technologies in the areas of market data services, product data transformation, and vendor management to enable suppliers and retailers to target, expand and optimize their product ranges.
The company also offers a proprietary market data service, RangeRank, which enables retailers to quickly add winning products while avoiding or dropping slow selling products.
Rangespan, which is already working with Tesco, Argos, and Asda, intends to use the capital to grow its retailer and supplier networks in its core UK market, as well as expand its proprietary market data service RangeRank.