Lengow, the self-proclaimed European leader in “e-commerce feed management”, has netted €10 million in Series B funding.
The France-based company was first underpinned by Kima Ventures, which is French billionaire Xavier Niel’s personal fund. The new investment has come from a range of interests that are looking to build on the company’s early success. Funding was secured from Serena Capital, BPI, and one of its Series A backers, Alven Capital. Since Lengow was formed in 2009, it has received a total of €11.4 million.
The Lengow product provides a platform for online retailers to promote their products through multiple online channels and monitor ROI. In essence, the feed management platform makes advertising a lot easier for the companies that use it.
Without it, firms would need to configure their stock inventory themselves for each platform they wanted to be advertised on or sell through, such as comparison search engines, marketplaces, affiliate platforms, and sponsored links. This is done through a single dashboard or feed management tool that stratifies across 1,800 different distribution channels such as Amazon, Yandex, eBay, Google Shopping, and Criteo.
Nenad Cetkovic, the COO of Lengow, says that “previously online retailers had no alternative but to manually index and adapt their product catalogue for each different distribution channel they wanted to sell on … Lengow adapts and optimises each feed to every channel. Furthermore, you are also able to track and to analyse the profitability of each product, on each channel to evaluate ROI.”
Lengow has designed the platform with simplicity at its heart, ensuring that users with no particular expertise can manage e-commerce feeds easily. He added: “It enables ecommerce managers to define profitability rules and optimisation rules according to their ROI concerns on a product level and achieve with this a unique automated optimisation on their product catalog.”
Lengow reports that at least 3,500 online retailers in 45 different countries are now its customers, including L’Oréal, inkClub, Nisbets, the North Face, and Made.com.
The company intends to concentrate the new investment on growing its international footprint and customer acquisition. The strategy will be focussed on the British and German markets in addition to setting up platforms in Asia and the US.