Lengow, the European leader in ecommerce feed management, has secured €10 million in Series B funding from European investors Serena Capital, BPI and Alven Capital. The funds will be used to accelerate the company’s international growth and global customer acquisition. This brings Lengow’s total venture funding to €11.4 million, following previous rounds led by Kima Ventures and Alven Capital.
Lengow enables retailers and manufacturers to increase global sales. It is the only solution that provides online retailers with a single and simple web interface to centralise, optimise and manage the distribution of their product catalogues, and also optimise their visibility and profitability on ecommerce channels worldwide. The company’s dramatic growth to date has been driven by more than 3500 customers in 45 countries and partnerships with 1800 channels worldwide. Ecommerce is the fastest growing retail market in Europe. Sales in the UK, Germany, France, Sweden, The Netherlands, Italy, Poland and Spain are expected to grow from €156.28 bn in 2014 to €219.44 bn in 2016. British people are the most frequent online shoppers in Europe with online sales in the UK predicted to rise 15.3% in 2016.
Tackling the new ecommerce challenges, Lengow will release a new version of its solution in autumn, which will benefit from more power, intuitiveness and increased usability. The new solution represents an evolution into a true hub that will allow merchants to manage their marketing campaigns, and to connect and automatically centralise their ecommerce tools within one single ecommerce platform.
The backing from Serena Capital, BPI and Alven represents the biggest round of funding ever for a European company in the sector and recognises the company’s stellar growth to date and impressive customer portfolio, including L’Oreal, Made.com, Mango, The North Face, Pepe Jeans and Vans. Lengow plans to increase its presence in the UK and Germany through strategic acquisitions and/or organic growth, along with physical presence in Asia and the United States. It also anticipates that it will double its workforce by the end of 2016 and continue to grow at a rate two to three times higher than previously. The company was founded in 2009 in France.
Mickael Froger, co-founder and CEO of Lengow: “Today it is quick and easy to create an online shop. However, being visible and efficient is more complicated. Lengow has one aim: to make online selling simple. In our ever-changing industry, the only way for retailers to stay ahead is by working internationally and working smarter. We are empowering people, businesses and brands to sell, connect and succeed across the world like never before.”