The Dutch investment fund Peak Capital is investing a total of € 750,000 in the feed management startup Channable. The fresh capital will enable the Utrecht-based startup to accelerate its growth in the Netherlands, Scandinavia, Germany, Austria and Switzerland. In 2017, the activities will be extended to several European countries including France, Spain, Italy and the United Kingdom.
Founded in 2014, Channable provides an online marketing tool for online retailers and marketers to easily display and compare products on shopping websites, marketplaces and affiliate networks. The product information is downloaded via a data feed or plug-in, and then optimized using rule based actions in order for the feed to comply with the specifications of the desired platform. Channable already serves more than 900 customers, such as Vodafone, Norwegian Airlines and Mediamarkt. Channable’s customers come from all over the world, however, the main focus has been on Benelux, DACH and Scandinavia. Next year, the Dutch startup will expand into other European countries.
“Customizing a data feed is a time consuming task for many online retailers. In order to adapt the feed for the various channels, many custom adjustments need to be performed in the online store, meaning that a web programmer must be hired. Channable enables users to perform these changes much more frequently and more easily. This means that they can advertise on many more platforms, without the high costs”, says Stefan Hospes, co-founder of Channable. The ease and flexibility that customers experience within the tool is also being reflected by the monthly adjustable subscriptions.
The possibility to link Google Analytics performance data to each product is very popular among experienced users of the tool. Robert Kreuzer explains: “By connecting the product information to Google Analytics data, you can easily see how the products perform on each channel and what improvements you can still make within your data feed to increase your sales even further.”