Akeneo, a Boston, MA-based provider of Product Experience Management (PXM) solutions for corporate brands and retailers, raised $46m in funding.
The round was led by Summit Partners, with participation from existing investors Alven, Partech, and Salesforce Ventures, as well as Akeneo’s board member Stephan Dietrich. In conjunction with the funding, Steffan Peyer, a principal at Summit Partners, will join the Akeneo Board of Directors.
The company intends to use the funds to continue to invest further in its sales and marketing efforts in the United States, while doubling down on research and development, including product data intelligence to boost product information automation and monitor product experience quality. Akeneo also plans to hire more than 100 additional staff in the upcoming year to support this next round of rapid growth.
Co-Founded by (from left to right) Nicolas Dupont, VP of Engineering; Fred de Gombert, CEO; and Benoit Jacquemont, CTO, Akeneo provides a SaaS based open source platform to manage product information and omnichannel catalogs.
The company’s product information management (PIM) platform has more than 60,000 live implementations and serves international brands including Sephora, Fossil and Staples CA.
With U.S. headquarters in Boston, Akeneo has more than 180 employees across six countries, including France, Germany, the UK, Spain, and Israel.
The new funding followed a series of corporate milestones, including the acquisition of AI startup Sigmento, integration with Salesforce Commerce Cloud, and a strategic premier technology partnership with Magento, an Adobe company.