E-commerce analytics start-up E Fundamentals raises £2.5m Series A
Having raised £5m to date, the London and Edinburgh-based business counts the likes of Nestle, General Mills, Kerry Foods and Birds Eye as clients
E Fundamentals, a London and Edinburgh-based e-commerce analytics and insight business, has raised £2.5m worth of Series A funding.
Downing-managed VCTs and Downing Ventures EIS led the investment round with participation from existing E Fundamentals shareholders.
Having now raised £5m to date, the fresh injection of funds will help the start-up “aggressively develop” its roadmap of market-leading platforms and tools which help major brand clients like Nestle, General Mills, Kerry Foods and Birds Eye grow their sales and profits in online supermarkets.
E Fundamental’s CEO John Maltman is the former VP of PepsiCo, P&G and Asda.
Richard Lewis, director of Downing Investment, said:
“We are delighted to work with such a committed, professional and focussed management team and are excited to support E Fundamentals as they continue to tackle this real problem facing FMCG brand-owners.
“We believe the company is perfectly poised to help brands adapt and succeed in the growing and crucial e-commerce sector.”
John Maltman, CEO of E Fundamentals, said:
“Every brand owner in the world has their growth plans pinned on eCommerce. We are committed to helping our clients get a tremendous Return on Intelligence by helping them drive their share of online business faster than bricks and mortar sales.
“All brand owners need deep insights to get the fundamentals of eCommerce right and this Series A round allows us to further perfect our service and quickly expand into new product areas and international territories.
“We’re delighted to be part of the Downing family; their long-term commitment to growing businesses made them the stand-out investor partner.”