Productsup receives over $70 million

The e-commerce start-up had recently already recorded 60 percent more new bookings. The money will be used to further develop the product.

Productsup has closed a $70 million Series B funding round. Venture capitalist Bregal Milestone led the round. 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, developing a product-to-costumer 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 also expanded its management team and doubled its headcount.

Productsup plans to invest the capital from the financing round in product development, expand into new markets and strengthen its partner network. The startup is also seeking 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.