ChannelEngine, a startup based in Leiden, the Netherlands, has raised US $50 million in funding on 15th March 2022.

The funding will be used to expand the number of marketplaces it works with, the number of retailers it connects to them, and to work on developing what the next generation of e-commerce will look like for all of them.

Atomico is leading the round, which also includes new investor General Catalyst, prior investors Inkef and Airbridge Equity Partners, and Stephan Schambach, the founder of Demandware, Intershop, and NewStore, as an angel investor.

What the founder has to say:

 ChannelEngine founder and CEO Jorrit Steinz:

“They’re all becoming marketplaces; the challenge has been trying to establish relationships with every marketplace. ChannelEngine’s platform provides a set of tools that will help retailers adjust pricing based on the site and audience, as well as what’s selling for what (automated repricing in trade speak); manage content, stock, and orders; and connect with third parties to handle additional analytic work.”

“The COVID-19 pandemic has expedited the adoption of e-commerce, which currently accounts for 20% of all retail purchases worldwide. According to Atomico principal Luca Eisenstecken, the global e-commerce market is predicted to rise by over US $500 billion between 2022 and 2023 alone. By creating the world’s largest e-commerce operating platform, ChannelEngine is well-positioned to take advantage of this potential by providing brands and retailers with immediate access to the worldwide marketplace.”

What the investors have to say:

“As the use of e-commerce grows, merchants and brands must adapt to meet customers where and how they shop. ChannelEngine has developed a comprehensive, technologically advanced platform that is both resilient and worldwide. General Catalyst is excited to invest in ChannelEngine since they assist leading e-commerce companies sell on marketplaces around the world,” said Larry Bohn, managing director of General Catalyst.

About ChannelEngine:

ChannelEngine, which connects retailers with and sells through more than 200 marketplaces, lets brands gain control by selling directly on numerous online marketplaces, distributors increase revenue with higher margins. Retailers sell more products wherever buyers are looking for them.

The firm manages over 200 sales channels, which distributes 6 million products from 8,100 manufacturers.

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Kshitij does business research and content writing for VCBay. Pursuing BBA from Symbiosis Center Of Management Studies (SCMS) Pune, he is skilled in Financial Modeling, Stock valuation and Microsoft Excel. He is passionate about Entrepreneurship and Finance.

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