Retail Tech Company Sales Layer Raises €3.5m in Funding Fr
LISBON, Portugal, May 11, 2020 /PRNewswire/ -- Spanish Product Information Management company Sales Layer has raised €3.5 million in a Series A financing round led by SONAE IM, the tech investment arm of Portuguese listed company SONAE (SON.LS), accompanied by venture capital investment firm Swanlaab Venture Factory and Valencia-based corporate investor Global Omnium.
The investment was made public today with the publishing of SONAE's consolidated results for the first quarter of 2020.
The funding will enable Sales Layer to scale international operations and expand its operational infrastructure.
Founded in 2013 by Álvaro Verdoy and Iban Borràs, Sales Layer's 30-strong team has become one of the world's leading PIM solutions, helping brands and retailers to transform their catalogs into an enriched, digital and multichannel control centre.
Noted for its unique approach to user experience (UX), the company's technology uses a cloud-based catalog management platform to connect the information to hundreds of channels throughout the supply chain, both for brands and retailers.
"Digital catalog are key revenue drivers for modern business, but they are also the biggest digital transformation challenge for millions of manufacturers and retailers. The recent times with the impact of COVID on people's lives, has put digitalisation and e-commerce on the priority list," said Alvaro Verdoy, founding CEO of the company.
"The role of Sonae IM, a retail tech specialist coming from a multinational group with retail in its DNA, shows the growing interest in Product Information Management solutions," he added.
In recent years, Sales Layer has already shown over 300% revenue growth in the 2018-2020 period. It serves more than 200 new accounts in more than 25 countries, including global manufacturers and retailers such as Teka, Rexel, Bobux, Reebok and Fermax.
PIM technology is replacing outdated Excel spreadsheets for the sharing of product information. With this disruptive technology, Sales Layer is now positioned as a challenger that can revolutionize how retailers approach their catalog management in online shopping and product experience for their customers.
With the investment announced today, Sales Layer has raised €5 million in total venture funding. It expects to almost triple the size of its team to 80 in the next few months.
According to Eduardo Piedade, CEO of leading investor Sonae IM: "Product content is a key element for sales and marketing and a clear differentiator for online retail and brands. In Sales Layer we've found a highly efficient, easy to use and consistent way to manage product information internally and across the rising number of channels. We are a firm believer of omnichannel retail and the current crisis has just come to highlight the need for retailers to diversify the ways they reach consumers. As an active investor specialized in retail, we are excited to support such a strong player in the PIM space through an ambitious international growth plan."
Swanlaab Venture Factory is a Spanish-Israeli Venture Capital fund manager based in Madrid and Tel-Aviv. Since 1992 has invested over $600 million through 7 funds and is geographically focused in Israel, Poland and Spain. The group has made more than 130 investments and has achieved more than 40 successful exits.
Global Omnium is one of the key companies worldwide managing the Integral Water Cycle. Global Omnium has worked towards the progress and growth of more than 300 municipalities worldwide. It has invested via its investment arm Go Hub, which helps deep tech startups set to become game changers and disruptors in water tech, industry 4.0 and smart cities.
Sales Layer's offices are located in the Spanish city of Valencia, where Global Omnium was founded 130 years ago.