Leading e-commerce software provider for multi-channel sellers, eSellerPro, has received a second round of funding from Notion Capital to support growth and entry into new markets. The latest tranche is for £1m and follows Notion’s initial investment of £1.8m in 2010.
Since then, eSellerPro claims to have become one of the fastest growing software companies in the UK, having tripled both its revenues and its customer base, which now includes Tesco Outlet, Dixons, Royal Mail, BMW, JJB Sports, Maplins, Whirlpool and BT Outlet. The company reports its multi-channel e-commerce platform processed £233m in sales on behalf of its customers in 2011 and will soon move through the £1m per day threshold.
Following the appointment of Keith Bird as the CEO early last year, the business has further strengthened its management team adding a CTO, director of sales, director of product management and director of global partnerships & alliances.
According to eSellerPro, the new funding will go towards expanding the business both technically and geographically, ensuring the company maximises on the opportunities in markets beyond the UK, including the US market, worth more than $300bn.
Bird said: “Since the first funding round in 2010, eSellerPro has both accelerated our growth and laid the foundations for further expansion into new markets including the all-important US. Our vision is to be a key part of the e-commerce ecosystem, ultimately helping retailers to sell more through seamless integration with multiple online channels. The market is expected to continue to grow rapidly over the coming years and this new funding will help us to accelerate our growth in the UK, US and beyond, while continuing to improve the experience for our existing customers.”
Ben White, partner at Notion Capital, said: “eSellerPro helps customers respond to the changing retail environment and maximise the value of their online presence through integration with third party channels like eBay and Amazon. The e-commerce market is expected to grow to $1tr by 2016 and online marketplaces is one of its fastest growing segments – as such we are very excited about the company’s future prospects and believe they have what it takes to build a very big business.”
The company’s technology helps retailers integrate online sales process, simplifying and automating tasks and maximising sales opportunities across multiple channels such as eBay and Amazon. eSellerPro currently has customers across the UK, US and Europe.