20 million US dollars for Productsup
The company's data management platform will soon also be available in North America. To this end, capital is now coming from Nordwind and Deutsche Handelsbank.
The e-commerce start-up Productsup has raised 20 million US dollars in capital. This enabled the Berlin-based company to almost double its total funding, which now stands at 45 million US dollars. The round is led by venture capitalist Nordwind Capital and Deutsche Handelsbank. Also involved are Moritz Zimmermann, partner at VC 42 Cap, and Contorion founders Richard Schwenke and Tobias Tschötsch.
Productsup offers its customers a platform through which they can analyze their product and customer data and thus optimize their sales strategy. Currently, Swedish furniture giant IKEA and hardware company Hewlett-Packard, among others, are using this offering.
"At Productsup, we help brands and retailers remove the barriers to success in today's digital landscape, enabling them to easily merge online and offline experiences to drive sales," says Productsup CEO Johannis Hatt. "I'm excited to see how this new capital will advance our mission and usher in a new era for Productsup employees, partners and customers."
Peer Simon, Head of Growth Finance and Venture Debt at Deutsche Handelsbank, was also pleased with the investment, which his bank is issuing as a loan together with KfW: "Productsup, as a fast-growing SaaS company with strong investors, is a perfect fit for DHB's strategy and sought-after target group."
Productsup now wants to use the money to expand into new markets, such as North America.
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