Notion invests further £1m into eSellerPro
E-commerce management platform set to pursue international growth
Software-as-a-service (SaaS) specialist eSellerPro has secured fresh funding of £1m from investment firm Notion Capital.
The funding takes Notion’s total investment in e-commerce management platform eSellerPro to £2.8m, following an initial tranche completed in 2010, and will allow the investee to grow its core business and expand into new markets.
Specifically, eSellerPro hopes the funding will facilitate technical and geographical expansion, and exploration of the US e-commerce market, which is currently thought to be worth $300bn.
eSellerPro, which is earned a strong international reputation for its e-commerce software, has tripled its UK revenues and customer base since Notion’s 2010 investment of £1.8m.
The company has also recently completed a string of significant hires, including experienced online specialist Keith Bird as CEO. Discussing the new tranche of funding, 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 ecommerce ecosystem, ultimately helping retailers to sell more through seamless integration with multiple online channels.”