Brightpearl (www.brightpearl.com), a cloud-based multi-channel retail management system that integrates orders, inventory, accounting, reporting and customer data, today announced it has raised $10m in a funding round led by new investor MMC Ventures, alongside participation from Quayle Munro and existing investors Eden Ventures and Notion Capital.
“We believe Brightpearl addresses a significant unmet need in a large and growing market. The team have developed an elegant cloud solution, which has become a mission critical tool enabling thousands of successful retail businesses. We are delighted to be leading this round of investment alongside such a strong group of investors and we’re very much looking forward to working with the team to continue building a phenomenal product and company,” said Rory Stirling, partner at MMC Ventures.
This latest funding will be used to accelerate investment in Brightpearl’s industry-leading Commerce Acceleration Platform, and to fuel rapid sales expansion.
“As early investors in Brightpearl, we recognized an unmet global need for multi-channel retail management systems,” said Charles Grimsdale, Eden Ventures co-founder and a director of Brightpearl.
“Today, Brightpearl customers are outperforming the overall retail sector and experiencing growth rates of 30-40% by adding new sales channels on the Brightpearl platform. We are pleased to continue supporting Brightpearl in this next phase of their impressive growth.”
“Brightpearl is at an exciting inflection point, and we are laying the groundwork for massive growth and scale,” said Salman Malik, chief executive officer of Brightpearl.
“Our business has been doubling; with more than 1,300 retailers on our platform, we’ve developed a deep understanding of customer needs, have a clear vision for platform enhancements and a strategy in place for optimizing our go-to-market initiatives.”