Dutch online marketplace integration platform ChannelEngine has raised $50 million in a Series B funding round.
The company’s service taps into the growing e-commerce trend of brands selling directly to consumers via marketplaces including Zalando and Amazon and provides them with one centralized location to manage, orchestrate, and automate a vast number of processes.
The new capital will be used to further develop the company’s product with the end goal of assembling the world’s largest e-commerce network and operating platform. Since 2016, the firm has taken on only $57.8 million in funding.
Founded by Jorrit Steinz, whose e-commerce experience dates back some 20+ years, it would appear as though ChannelEngine might be the David to take on the industry’s Goliaths.
Since closing a $6.1 million Series A round in late January of last year, ChannelEngine has more than doubled revenues, now serving over 450 clients, tripled to headcount to a now healthy 140 person team, and opened offices in Munich, Dubai, Singapore, Melbourne, and New York.
Now counting the facilitation of more than 6 million products ChannelEngine’s client roster of 8,100 brands includes household names such as Bugaboo, Staples, JBL, Polaroid, Hunkemöller, Brabantia, Reckitt Benckiser, Bosch, JDE, Electrolux, Philips Domestic Appliances, Signify, Diadora, Glanbia, O’Neill, and Safavieh have all lined up to lay their cash down.
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