Brightpearl, a UK-based digital retail tailored platform particularly built for the omnichannel merchants, announced securing €33 million funding for expanding their business on 24th December 2020.
This Series C investment came from Sage, a leading cloud based provider of business management solutions that put in US$ 23 million funding. The round was also joined by the existing investors of Brightpearl, Notion Capital, Verdane and Cipio Partners that invested US$ 10 million in the company.
Brightpearl offers back office solutions like inventory management, supplier management, fulfillment, purchasing, warehouse, logistics, inventory, management, sales & order management and financial management for the retail business operations.
The lead investor Sage is also joining a position on the board of Brightpearl. The press release by the UK based company said, “Brightpearl and Sage will together help the e-commerce and retail consumers to take the advantage of best cloud finance and the retail management solutions by providing support in their digital way. Sage’s wider strategy is consistent with the companionship with Brightpearl for investing in high growth software solutions.”
Brightpearl provides a strong infrastructure for automating and centralizing all of the necessary post purchasing operations. Once the prime operations for the retailers are optimized, they can easily adjust for any of the market changes and scale their business without any inefficiency. Being particularly designed for the wholesale business sales and retails it ensures their customers don’t have to pay for any extra costly or unuseful customizations. The retail consultants of Brightpearl provide their constant support to the retailers in the overall partnership from scope part to implementation with their 24/7 technical support and business consultation.
The CEO of Brightpearl, Derek O’Carroll said, “We are very happy for building this new association with Sage, for supporting our customers and accelerating the presence Brightpearl and Sage has in the US and UK. Brightpearl brings the right solutions to offer significant benefits that automate the retail process and can help the global merchants save their time and deliver swift end-to-end and better customer experiences. This investment will help us to expand our platform, provide better services, increase innovation in product range and grow our team globally.”
The company already supports more than 1,200 businesses across 26 countries that manage 10 million transactions with around US$ 3 billion business per year. Brightpearl is currently operating in two countries; US and UK with its US headquarters in Austin and its global headquarters present in Bristol, UK. The retail merchants can effectively streamline their business operations and boost their sales with the automated tools offered by the company.
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