Patchworks, a company providing ecommerce software tools to retailers, has raised £4m as it brings in a new CEO.
The London and Nottingham-based company has been providing clients with ecommerce integration tools since 2014 and is now looking to scale product development with the new cash injection. Patchworks customers use its software to integrate some of the many ecommerce tools out there in the modern industry, such as Adobe Commerce, BigCommerce, and Shopify.
Patchworks’ clients include Gymshark, Huel, and Trinny London, who use the ecommerce platform to bulk-process orders. The company claims that its system can withstand even the busiest of shopping periods, such as the Black Friday/Cyber Monday of 2022, when the company processed over 1.7 million orders.
“Patchworks has had an amazing journey over the past two years. The investment from Gresham House Ventures has enabled the business to more than double recurring revenues, launch new products and win some amazing new clients,” said Simon Drane, chairman of Patchworks.
Alongside the funding, the startup has hired a new CEO, Jim Herbert, to manage the upcoming scaling period.
“We now have a clear vision as a board on areas that we need to focus on, and this new round of funding will enable us to deliver on those areas under the leadership of our excellent new CEO Jim Herbert,” Drane added.
The new funding came courtesy of Gresham House Ventures, an existing backer of the company.
“Gresham House Ventures’ previous investment in Patchworks has played a significant role in supporting its recent growth and we are confident that the business can continue to go from strength to strength over the coming years as it grows its market share,” said Grant Paul-Florence, director of investment at Gresham House Ventures.
“This latest investment will enable Patchworks to strengthen its product offering further and cement its position as a go-to provider for ecommerce businesses looking to achieve scale and seamlessly integrate their backend systems.”