P2C is the future of retail, and this recent investment of over $70 million (€65 million) in Productsup further adds weight to this point.
Productsup will further advance its product development, target M&A opportunities, strengthen its partner network, and expand to new markets to solidify its position as the leading global P2C solution for commerce success.
This investment round was led by Bregal Milestone, a leading European tech growth capital firm, with participation from its existing investor, Nordwind Capital.
P2C; The trending retail model
Conventional models of sale such as B2B, B2C and direct-to-consumer (D2C) have often forced sellers to optimise their product routes to customers across multiple systems. The expansion into digital commerce has not only been accompanied by higher customer expectations but also ever-growing complexities and overheads to ensure the cohesion of the many moving parts of the e-commerce ecosystem, including systems, feeds, channels and marketplaces.
Digital businesses have in response acquired the tools, solutions, and data to deal with these challenges and serve different digital channels. Sadly, despite their intentions for a seamless customer experience while managing the tasks and complex omnichannel processes between providers and consumers, organisations are watching their consumer relationships become divided and diverted.
“What was once a simple task of bringing products to consumers has become an overwhelmingly complex process for today’s businesses,” remarked Vincent Peters, CEO at Productsup. “We’re in a new era of commerce where outdated approaches are no longer effective.”
P2C has stepped in to enable companies to streamline their product information value chain, which is the path products or services take to reach consumers. By adjusting product data to meet the requirements and specifications for each channel, instead of manually managing the flow of product data across hundreds of channels, P2C platforms allow companies to manage the entire lifecycle of product data in one platform.
As such, P2C helps companies exert decisive control over their digital commerce systems by successfully controlling the complex omnichannel processes they need to thrive.
Productsup P2C offering
The Productsup P2C platform is a strategic, scalable platform managing all P2C information value chains across any platform, channel and technology, processing over two trillion products a month. The Productsup P2C platform is the only solution available providing a holistic view of data across every product touchpoint.
Productsup allows for seamless integration with shop systems, enabling product content syndication, social commerce, vendor onboarding and feedback management. The platform automates manually intensive labour through advanced AI and ML, offering personalisation to adapt to the individual needs of each commerce business, eliminating the need for IT support through an easy-to-learn interface, and improving the visibility of the product’s information value chain with a 360-degree view management system.
The Productsup P2C platform is enabling companies to tell a consistent product story across more than 2,500 marketing and selling channels, thus driving higher conversions and reducing time-to-market.
The opportunity for Productsup
Global e-commerce sales are projected to reach over $5Tn by 2022, however, more than one-third (37%) of decision-makers are concerned with the consistency of product information being passed through their tech stack.
The Berlin-based company founded by Johannis Hatt and Kai Seefeldt in 2010 already works with over 900 global brands, retailers, marketplaces, and service providers to help them gain control over their omnichannel strategies in order to gain market share.
Productsup grew its net new ARR by over 60% in the last twelve months, boasting a gross revenue retention rate of 90% and a net revenue retention rate of 120%. Beyond financial gains, the company increased its employee count from 150 to 300, expanded its leadership team, and was named a leader in P2C management by Constellation Research all within the last year.
“This investment substantiates the effort and work we have put forth into transforming Productsup to be the P2C category leader,” commented Christian Plangger, Managing Partner of Nordwind Capital. “We are excited to partner with a renowned technology-focused growth capital firm like Bregal Milestone to continue to build on the company’s successes and accelerate its growth globally.”
