Productsup receives over 70 million US dollars

The e-commerce start-up recently recorded a 60 percent increase in new bookings. The money will be used to further develop the product.

Productsup has completed a Series B financing round of 70 million US dollars. Venture capitalist Bregal Milestone led the round. The existing investor Nordwind Capital also participated again and continues to hold a majority stake in the company. The company will work with both investors to invest in new product development initiatives.

Productsup has been around since 2010 and has developed a product-to-customer platform that helps e-commerce companies keep track of their product information value chains and increase their visibility on social media, search engines and shopping channels. Over the past twelve months, the company has experienced strong growth, with Productsup reporting an increase in new bookings of more than 60 percent. The company has also expanded its management team and doubled its workforce.

Productsup intends to use the capital from the financing round to invest in product development, expand into new markets and strengthen its partner network. The start-up is also aiming for mergers and acquisitions. "This funding will enable us to work on our mission to radically rethink the way companies manage their products within the commerce ecosystem and ultimately enable our customers to turn complexity into a competitive advantage," says Productsup CEO Vincent Peters.