Product-to-consumer (P2C ) software company Productsup announced on April 6, 2022, that it had raised over $70 million in a Series B funding round. Bregal Milestone led the investment round with participation from Productsup's existing investor, Nordwind Capital. This investment follows the $20 million raised by the company in its last funding round, early 2021.

Productsup, a Berlin-based company, is listed as an e-merchandising and e-commerce data integration software on G2. The company works with over 900 global brands, retailers, and marketplaces to supercharge a customer's journey with consistent product information across all sales channels. Productsup aims to strengthen the retailers' and brands' omnichannel strategies to achieve the highest e-commerce visibility and conversion.

Productsup aims to radically rethink the commerce space

The COVID-19 pandemic triggered unprecedented growth in retail and e-commerce globally. This sudden spike in e-commerce businesses across regions can be attributed to consumers shifting to online shopping. As per a report by Emarketer, worldwide retail e-commerce sales have clocked $5 trillion this year and will exceed $7 trillion by the end of 2025. Despite this growing preference toward the online world, brick-and-mortar shopping is still gaining huge traction. A 2020 report published by eMarketer observed that e-commerce holds a 14.5% share of the overall retail sales in the U.S. This signifies that over 80% of the remaining sales happen through offline channels.

Customers prefer to do online research on e-commerce sites before purchasing at a store. This has given rise to companies like Productsup, which looks toward tapping into omnichannel commerce to take advantage of consumers' newly found hybrid shopping behavior.

Founded in 2010, Productsup is on a mission to solve the most burning issue in commerce today, i.e., commerce anarchy. As the retail landscape evolves, it becomes increasingly difficult for retailers to provide consistent and accurate product information across all channels. Productsup uses the latest P2C approach to navigate 2,500 channels ranging from social commerce ones such as Instagram to marketplaces like Google and Yahoo Shopping, price comparison sites, retargeting platforms, etc. P2C solutions offered by Productsup are illustrated below.

Source: Productsup                           

Vincent Peters, Productsup’s CEO, says:

“We’re in a new era of commerce where outdated approaches are no longer effective. This funding will allow us to work toward our mission to radically rethink how companies manage their products within the commerce ecosystem, ultimately empowering our customers to turn complexity into a competitive advantage.”

Productsup works with several renowned global brands such as Adobe, IKEA, Uber Eats, and Shopee and processes over two trillion products every month. It provides a host of solutions that prevent misinformation such as incomplete and inaccurate product descriptions, price errors, or fuzzy images in the e-commerce value chain.

G2 data on E-Commerce Software categories

E-commerce is booming, as evident from G2’s insights on the E-Commerce Software categories. Brands and retailers continuously look for software that can save time and energy on daily e-commerce tasks.  

The E-Merchandising Software category has 90 products, while the E-Commerce Data Integration software category has around 60 products. Data insights from G2 illustrate the review counts of E-Merchandising and E-Commerce Data Integration categories by small businesses, mid-market, and enterprises. 

Around 59% of the software reviewers in both categories are from small businesses, followed by mid-market and enterprise. Small businesses opting for e-merchandising products can be due to a large number of retailers looking for solutions that can strategically display the products on the website to increase visibility and conversion. Similarly, e-commerce data integration tools are popular among small businesses due to the increasing efforts by companies to invest in providing consistent product information across all sales and marketing channels.

With increasing competition in seamless shopping experience offerings, companies like Productsup are disrupting the retail landscape and helping today’s retailers realize the need to fix broken product information flow processes within the e-commerce ecosystem.

Edited by Shanti S Nair