Q1: How will the investment expand Sales Layer’s services, offerings and technologies?
Our team is continuing to develop our functionality and offerings across the Spanish, UK and US markets. Our Series B funding will enable us to develop our presence in the UK and US further, both for reaching new customers and growing our team.
Q2: What is PIM and why is it so important for retailers and manufacturers?
Product Information Management (PIM) offers a centralized platform to upload, manage and enrich all product data. Teams can collate all data sources to create a single source of truth system that both streamlines workflows and improves the customer experience.
PIM enables manufacturers and retailers to upload and sync thousands of product SKUs and catalogs across all of their selling channels and marketplaces.
Q3: What’s the next step for Sales Layer? Will Sales Layer continue its international expansion?
The next step for Sales Layer is to continue to grow our team over the next year. We’re expanding our international team each year and 2022 has already seen the launch of our UK office amongst other achievements. This Series B funding will continue to support that growth, with a particular focus on the UK and US.
With its increased demands, the UK market encourages us to raise the bar in terms of customer needs, competitors and our overall execution. We know that succeeding in the UK means companies can succeed in almost any other western market.
Q4: How do you see the software industry in 5 to 10 years?
The PIM market is huge and we foresee this growth to continue over the coming years. At the same time, we anticipate two emerging trends. One is that companies will look to grow by consolidating space and acquiring similar technologies. An example of this is a B2C PIM company acquiring a data feed manager or vice versa.
The other trend that we are expecting to see is other companies within the PIM space becoming champions of more specific market segments, in order to address more specific needs of their customers.
Q5: What are your targets for further growth following the funding round?
Our main target at Sales Layer is to grow our business at a pace of over 150% year-on-year. This is a consistent target for revenue and our global team numbers.