When the context is about selling online, you can’t ignore marketplaces. It is a one-stop platform for today’s smartphone-wielding customers. It also creates more opportunities for scale in terms of delivery and fulfillment. In case you don’t know, Amazon has evolved as the name synonymous with marketplace selling. 50m 450m atomicomascarenhastechcrunch
Nowadays, a startup called ChannelEngine is allowing retailers to connect and sell through more than 200 marketplaces. Recently, it has announced a growth round of funding to build its business and strong demand. ChannelEngine is based out of the Netherlands and has raised $50M which will help the company to expand its operations in premium marketplaces.
In the funding, Atomico is leading the round. Moreover, there are other popular investment partners participating to raise funds for ChannelEngine. At the present moment, the valuation is not disclosed. ChannelEngine was established in 2013 and raised only $7 million before the round.
The rise of ChannelEngine comes at a time when the e-commerce industry is expanding. A vast majority of e-commerce giants are transforming their business models into marketplaces to grab the attention of audiences. The CEO of ChannelEngine opines that all e-commerce markets are becoming marketplaces.
The CEO further added that the challenge is shifting rapidly. He elaborated that the new challenge is to set up relationships with each marketplace. ChannelEngine helps in providing tools that will help retailers adjust pricing based on the website and audience and what’s selling.