The funding round is being led by global growth equity investor Summit Partners. Existing investors Alven and Partech are also participating in this latest round, bringing Akeneo's total investment raised to $196 million. The new capital will be used to drive continued momentum through an accelerated product development roadmap, key executive hires, and expansion of Akeneo's strategic partnerships.

Akeneo is a global leader in Product Experience Management (PXM) solutions that help merchants and brands deliver a compelling customer experience across all sales channels, including eCommerce, mobile, print, and retail points of sale. Akeneo's open source enterprise PIM, and product data intelligence solutions, dramatically improve product data quality and accuracy while simplifying and accelerating product catalog management.