Why We Invested in Channable, The Ultimate Feed Management Tool

Why We Invested in Channable, The Ultimate Feed Management Tool

February 1st, 2022

Partech is thrilled toannounce we’re leading Channable’s $60M Series B. This marks the sixth investment of ourfund Partech Growth II, and our second investment in the Netherlands. 

Channable is the ultimateglobal provider of e-commerce feed management and PPC automation software fordigital marketers, brands, and online retailers. Through centralizing, cleaning,and organizing product data from multiple sources such as ERP, PIM, WMS,suppliers and more, their SaaS platform allows customers to build product datafeeds for advertising and marketplace channels, as well as tailor the feed correctlyfor each of these channels. The outcome is powerful: businesses can deliver theright information to the right channel at the right time, efficiently and atscale.

Founded in 2014 by Robvan Nuenen, Stefan Hospes and Robert Kreuzer, Channable has already gained thetrust of over 6,000 customers, and currently processes more than 55 billion itemsa day via thousands of global channels including comparison websites,marketplaces, search engines and social networks.

Why MultichannelEcommerce Software?

Feed management is becomingincreasingly important as e-commerce grows and becomes increasingly complex. Westrongly believe the proliferation of channels presents additional sellingopportunities for merchants, making software like Channable strategic for growth.

The first wave of e-commercewas just getting products online. We saw companies such as Shopify, Bigcommerceand Wix mark themselves out as leaders through lowering the barriers for merchantsto sell online.

We’re now in thesecond wave of e-commerce, dominated by multichannel distribution. GoogleShopping disrupted the status quo in the 2010s and became a must-have feeddestination. Now marketplaces dominate online retail. Verticalized marketplacesare popping up everywhere as large retailers launch marketplaces. Finally, theemergence of social commerce with Facebook, TikTok and Instagram, as well asembedded commerce further increases the number of channels.

In addition to thegrowth of e-commerce and number of channels, the channels are getting morecomplex. An example is Facebook tripled the number of attributes required to lista product on their marketplace between 2017 and 2020. These attributes are noteven the same ones required by other giants such as Google and Amazon. Similarly,selling via marketplaces is increasingly difficult for merchants as third-partymodels begin to dominate. Third-party marketplace models force merchants tomaintain consistent product information, real-time inventory levels andfulfilment options across multiple channels and geographies. This is extremelycomplex to do operationally without a dedicated solution.

Enter Channable.

Channable is theEuropean leader for feed management. Through a single pane of glass, marketersand marketplace managers can control all their destination channels, add newones and start selling more. Channable allows merchants to reach theircustomers wherever they are.

Rob, Robert, andStefan have done an impressive job. They’ve built the product for automation,ease of use and scalability. Throughout our interactions we were thoroughlyimpressed by the mutual trust and respect they have for each other, as well astheir wider team. Engaging with the founders as well as visiting the UtrechtHQ, we witnessed first-hand their commitment to a strong company culture and anopen environment.

Channable is a perfectfit for Partech Growth’s investment thesis in e-commerce enablement. We wereparticularly excited with the following qualities of Channable:

  • Accessibleto SMBs – exceptional UI/UX built for ease of use
  • Proven atscale and powerful enough for enterprise – we were blown away by the use casesof global brands deploying Channable on thousands of channels and hundreds ofcountries
  • Consistentlyoutstanding customer feedback – demonstrated through industry leading NPSscores and exceptional stickiness
  • Highlyengaged leadership with the product vision to continually drive more value to customers
  • 100% software,with automation at its core, empowering users (0% professional services)
  • Trackrecord of fast growth

What’s in Store forChannable?

Channable is lookingto the future, aiming at further enabling cross-border commerce for merchantsby building the best possible product on the market. They will developinnovative features, continue adding new channels, and expand geographically.

To support theseexpansion efforts, the company has tapped industry veteran Michael O’Neal tooversee their US expansion from a their recently opened New York office. As VPof Business Development, Michael will lead US sales efforts. In the comingmonths, they will be recruiting several talents to fuel international growthand product expansion.

Channable has thepotential to become a global category leader – and this is exactly what PartechGrowth was looking for. We are tremendously excited to back this top team andsupport them on their continued success!

The Partech Growth Team.

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