Global delivery software business Sorted has raised £15 million in a Series B funding round led by Merian Chrysalis Investment Company Limited (Merian Chrysalis), alongside Praetura Ventures and NVM Private Equity LLP.
The Series B investment takes the firm’s total funding to more than £35 million since its launch in 2010.
The Manchester-based, global software as a service (SaaS) business has developed a delivery management platform which allows both physical and digital retailers to effectively manage their delivery and returns proposition.
Through the use of Sorted’s proprietary technology, retailers are able to increase conversion rates, reduce abandoned baskets and increase customer loyalty.
Sorted is one of the UK’s fastest growing tech companies and currently works with a number of leading companies such as ASOS, Lush, N Brown, Wincanton and Clipper Logistics, Sorted is continuing to develop its disruptive technology, while pursuing a strong pipeline of potential retail partners globally.
CEO David Grimes said: “Sorted is rewriting the rules when it comes to delivery, and we’re delighted to be pushing forward with our global growth. The backing from these high-profile investors is testament to the size of the opportunity in front of us. This is a really exciting time as we work harder and faster, partnering with the most innovative retailers in the market.”
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Richard Watts, portfolio manager at Merian Chrysalis added: “The delivery management sector is ripe for disruption and we believe Sorted has emerged as the only credible, global challenger to the current market-leader.
“We are excited to provide David and the team with the growth capital required to continue developing truly innovative technologies and expand internationally.’’
The funding will provide the business with additional capital to accelerate the pace of their technology development and international expansion, as well as increasing employee headcount.