Akeneo, a global leader in Product Experience Management (PXM) solutions for corporate brands and retailers, today announced it has raised $46 million in funding led by global growth equity investor Summit Partners. Existing investors Alven, Partech, and Salesforce Ventures, as well as Akeneo’s board member Stephan Dietrich, also participated in the round. Alven had led the €2.4 million series A round in September 2014 and participated in the $13 million series B round in March 2017.

Akeneo’s open source SaaS platform provides a comprehensive solution to manage product information and omnichannel catalogs. In the era of experience-driven commerce, both B2C and B2B brands and retailers are increasingly relying upon the power of unified product information to deliver compelling and relevant customer experiences across all sales channels. Akeneo has become the most used product information management (PIM) platform in the world and has achieved compound triple-digit revenue growth for the sixth consecutive year. It has more than 60,000 live implementations and serves international brands including Sephora, Fossil and Staples CA.

Akeneo is a global leader in Product Experience Management (PXM) solutions that help merchants and brands deliver a compelling customer experience across all sales channels, including eCommerce, mobile, print, and retail points of sale. Akeneo’s open source enterprise PIM, and product data intelligence solutions, dramatically improve product data quality and accuracy while simplifying and accelerating product catalog management. Leading global brands, including Sephora, Fossil, Shop.com, and Auchan trust Akeneo’s solutions to scale and customize their omnichannel and cross-border commerce initiatives. Using Akeneo, brands and retailers can improve customer experience, increase sales, reduce time to market, go global, and boost team productivity.

With the new funding, Akeneo intends to continue to invest further in its sales and marketing efforts in the United States, while doubling down on research and development, including product data intelligence to boost product information automation and monitor product experience quality. The company also plans to hire more than 100 additional staff in the upcoming year to support this next round of rapid growth.