Pimcore, a provider of open-source software for running e-commerce sites and data management systems, has received $3.5 million in Series A funding, the conpany said yesterday.
The company specializes in providing business-to-business and business-to-consumer e-commerce software designed to integrate with its suite of data management applications, including product information management, digital asset management and a content management system. That integration is designed to ensure accurate and consistent product data and images across multiple locations, including e-commerce sites, mobile devices, product catalogs and digital marketing campaigns. Open-source software lets users access the core software code for making modifications.
One of Pimcore’s strengths is in the integration of its PIM and e-commerce technology, analysts say. “They obviously don’t have the market share of some larger companies such as SAP, but a natively connected PIM and commerce platform is compelling,” says Jason Daigler, an analyst who covers digital commerce and related technologies at research and advisory firm Gartner Inc.
Bruce Eppinger, a senior analyst at Forrester Research Inc. covering e-commerce and PIM technology, says Pimcore has “a strong data management foundation of product and customer data,” giving it “a leg up over others with weaker PIM abilities.”
Eppinger adds that Pimcore’s new funding “is not going to allow them to challenge market leaders like Hybris and Magento, but it should be enough for them to establish some compelling offerings in niche B2B and direct-to-consumer markets. Brands and B2Bs need to build their digital transformation strategies on a foundation of product information management.”
Customers that use Pimcore’s technology for B2B e-commerce portals include manufacturers Walter Bosch GmbH; Audi AG, which operates a B2B portal that connects dealers with parts suppliers; and timber company JAF Group, which sells lumber to professional carpenters in 19 countries.
“We’ve identified an incredible need for more flexible and connected data solutions for global enterprises, and strongly believe control over intellectual property and software belongs in the hands of our customers. That’s why we’ve developed our technology to be completely free of license cost,” said Dietmar Rietsch, CEO of Pimcore.
The funding, led by Germany-based Auctus Capital, will enable Pimcore to launch new products and expand its global presence, including an expansion over the next 12 to 18 months of its U.S. operations, based in Sugarland, Texas, Rietsch says.
“In the coming months, you can expect to see the launch of additional cloud and subscription-based business models that will give our customers new options for building and managing data, as well as support the continued improvement of the buying experience,” Rietsch says. “We will also be rolling out a series of add-ons to our open-source product to further empower our customers to innovate in our open-source environment.”
Founded in 2013, Pimcore says it has a customer base of more than 82,000 companies across 56 countries, with a global network of more than 90 implementation and consulting partners.
“All innovation in recent years in areas such as cloud computing, big data and artificial intelligence have happened in open-source ecosystems. It has become the primary engine of innovation all around the world,” Rietsch says. “We’re looking forward to extending these capabilities to current and future customers in 2019 and beyond.”
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