Lengow, which claims to be the European leader in “e-commerce feed management,” has closed a Series B round.
The French company, originally backed by Kima Ventures, the personal fund of French billionaire Xavier Niel, has raised €10 million in new funding from Serena Capital, BPI and Series A backer Alven Capital. It brings the total raised to €11.4 million since Lengow was founded in 2009.
Offering a platform to help online retailers push their wares across multiple online channels and monitor ROI, put simply, Lengow aims to make online selling simple.
Rather than having to manually configure your store’s inventory for each platform you wish to be listed on or sell through (comparison shopping engines, marketplaces, affiliate platforms, sponsored links, retargeting, mobile, etc.), the service provides a single dashboard or e-commerce feed-management tool that works across 1,800 distribution channels, such as eBay, Amazon, Google Shopping, Criteo, and Yandex.
“Previously online retailers had no alternative but to manually index and adapt their product catalogue for each different distribution channel they wanted to sell on,” explains Nenad Cetkovic, COO of Lengow.
“Lengow adapts and optimises each feed to every channel. Furthermore, you are also able to track and to analyse the profitability of each product, on each channel to evaluate ROI.”
In addition, Lengow has been specifically designed so that a user with no particular technical expertise can easily manage e-commerce feeds.
“It enables ecommerce managers to define profitability rules and optimization rules according to their ROI concerns on a product level and achieve with this a unique automated optimization on their product catalog,” he adds.
To that end, Lengow claims more than 3,500 online retailers in 45 countries (including L’Oréal, The North Face, inkClub, Nisbets, and Made.com) as customers.
The newly raised funds will be used to accelerate the company’s international growth and customer acquisition. This will include increasing its presence in the U.K. and Germany through “strategic acquisitions and/or organic growth,” along with setting up shop in Asia and the U.S.