Retail management platform Brightpearl raises $11m for US growth
Latest round of funding from Eden Ventures and MMC Ventures takes total investment into Young Gun-founded company to $30.5m
Brightpearl, a multichannel retail management platform, has announced the closure of an $11m round of funding led by Eden Ventures, MMC Ventures and Notion Capital, with participation from Silicon Valley Bank and Columbia Lake partners.
Founded in 2007 by Young Guns Chris Tanner and Andrew Mulvenna, Brightpearl’s cloud-based business management system allows small and medium independent retailers to integrate orders, inventory, accounting, reporting and customer data into one platform.
The company, which has an office in San Francisco, claims to have 1,400 customers in 30 countries and has seen more than $4bn of gross merchandise value traded on its ‘Commerce Acceleration Platform’ sunce December 2014.
This latest finance brings Brightpearl’s total funding to $30.5m and will be used to accelerate the growth of its sales and marketing organisation in San Francisco, as well as to grow its engineering, service and support teams.
Charles Grimsdale, executive chairman at Brightpearl, said:
“Our customers sell globally on multiple channels both online and offline. They are highly innovative, and we are delighted that Brightpearl helps them to grow faster and achieve greater operational efficiencies.”
Craig Netterfield, managing partner at Columbia Lake Partners, commented: “Brightpearl addresses a significant unmet need in a fast growing market. The team has developed a mission-critical platform that enables thousands of retail businesses to compete successfully […] We’re very much looking forward to working with the team to continue building a phenomenal product and company.”