Peoplevox raises $6m from Index Ventures to fund product development
Warehouse management company plans to help its e-commerce customers compete with Amazon in estimated £1.8tn global market
Warehouse management system provider Peoplevox has secured $6m investment, led by Index Ventures, to help e-commerce companies modernise their warehouse operations.
Founded from his home in 2008 by Jonathan Bellwood, the London-based company combines real time inventory levels, one software-as-a-service (SaaS) code base and simple integration with key e-commerce platforms to prevent delayed, cancelled or incorrect orders.
Although competitor Amazon has already perfected its own system, Peoplevox says it achieved 99.96% up-time in 2014 and helped its customers dispatch 1.2 million orders in December.Today the company counts more than 100 retailers as clients, including big names such as Barbour and Mothercare.
Angel investors Ben White and Jon Kamaluddin also contributed to the investment which will be used to accelerate product development, fully support in-store fulfillment and for the expansion of its London and international teams.
Bellwood commented: “We’re now seeing many of the companies that were at the forefront of the e-commerce revolution five-10 years ago, being severely hampered by the legacy warehouse management systems that they implemented early on.
“Fulfilment is the biggest challenge to the growth of e-commerce around the world. As consumer appetite increases, so, too, do expectations for fast and efficient delivery and service.”
Index partner, Dominique Vidal, said: “The complete masters of inventory, Peoplevox are bringing truly innovative SaaS technology to a vast and expanding marketplace, with demonstrable ROI for their customers.
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“From all our investments in e-commerce companies and the wider ecosystem, we know how critically important smooth and reliable warehouse management is for the fortunes of retailers.”