Brightpearl acquired by Sage for $360 million
We first backed this business in 2014, leading a round alongside Notion and Eden, and have supported the business over five funding rounds since, co-investing with Cipio, Verdane, and of course, Sage, along the way.
MMC's first investment took place in the context of a retail industry still shifting towards online and digital experiences, generating increasing complexity for retailers. In particular, smaller and mid-market retailers had few options for navigating the increasing consumer demand for online/offline journeys and slick digital experiences which we now take for granted.
Brightpearl offered the solution and we have been proud to support its continued and relentless focus on product that has resulted in a highly scalable, flexible product that is best of breed in its category.
We’re also proud to have played our part in bringing the brilliant Derek O’Carroll and Maurice Helfgott into the business. Derek has done a fantastic job leading the business as CEO since 2016 and Maurice has brought his 20 years of retail experience from the likes of M&S, Moss Bros to his role as chairman since 2018.
MMC partner, Ollie Richards, had this to say of the acquisition:
“Today’s acquisition is testament to the growth of one of the UK’s leading tech success stories and a business that has levelled the playing field for retailers online. Brightpearl has transformed the way mid-market retailers, high growth brands and wholesalers manage their operations seamlessly between physical and e-commerce platforms. MMC Ventures is proud to have supported the business since 2014 when we led the Series A and helped build the team, the board and the growth strategy. This deal closes a hugely successful year for UK tech and MMC Ventures, following the recent acquisition of Interactive Investor by abrdn and prior to that the acquisition of Current Health by Best Buy. We continue to back the most ambitious entrepreneurs across Europe at Series A and look forward to watching the Brightpearl team prosper within Sage. ”Oliver Richards, MMC
We couldn’t be happier for Derek and the whole Brightpearl team and we look forward to watching them prosper within Sage.
Read more on the deal via the Sage website.