Brightpearl Raises $8 Million In Series B
Brightpearl is a cloud software company that has raised $8 million in Series B funding from previous investors Eden Ventures and Notion Capital. Eden and Notion previously invested $5 million into Brightpearl.
Based in the United Kingdom, Brightpearl raised a total of $14.5 million. Brightpearl offers cloud software to small-and-medium sized retailers. Brightpearl offers to integrate orders, inventory, and customer data for multi-channel retailers. Andy Young (chief marketing officer) and Adam Smith (SVP of finance and operations) have both joined Brightpearl.
“We believe Commerce Acceleration software for small to medium businesses is a multi-billion dollar global opportunity,” stated Eden Ventures co-founder and Brightpearl director Charles Grimsdale. “Brightpearl dominates this market with the ideal combination of technology, team and traction. We’ve seen customers experience growth rates of 40%-50% by adding new sales channels on the Brightpearl platform vs. single-digit growth for the overall retail sector.”
The company plans to use the Series B funding to invest in their Commerce Acceleration Platform and will expand sales in North America and the U.K. Brightpearl Commerce Acceleration Platform processed over $600 million of gross merchandise value. Brightpearl can be integrated with various sales channels including Magento, eBay, Bigcommerce, Shopify, and Amazon.