Brightpearl announces £24.5 million Series C funding round and new partnership with Sage
At a time of transformation for the retail sector, Sage and Brightpearl announce a partnership to accelerate digital transformation for retail customers.
Brightpearl's £24.5 million funding round was led by Sage with existing investors including MMC, Cipio Partners, Notion Capital and Verdane also participating. Sage invested £17 million in the round and will take a seat on the Brightpearl board. Under the partnership Sage and Brightpearl will help retail and e-commerce customers take advantage of best-of-breed cloud finance and retail management solutions, supporting them on their digital journey. The partnership with Brightpearl is consistent with Sage’s broader strategy to invest in complementary high growth cloud-based software applications.
“As retail businesses from across the globe recover from the impact of Covid-19 trading online has gone from being a ‘nice-to-have’ to a ‘must-have’ for retailers. Digitising back office operations is a critical step towards transitioning to online commerce – and through investing in high growth, cloud solutions like Brightpearl, we’re committed to supporting our customers to not only make that switch quickly and easily, but to also grow and compete. ”Lee Perkins, Chief Operations Officer at Sage
With its global Headquarters in Bristol, UK and the US HQ in Austin, Texas, Brightpearl helps 1000+ retail customers to streamline and automate their retail operations across order management, CRM, fulfilment, retail accounting inventory, and warehouse management as they scale and grow. The company, which has partnerships with organisations like Shopify, eBay and Amazon, has seen the number of online firms using its platform grow by 75% in the last quarter of 2020.
“We are delighted to build this new relationship with Sage to further support our retail customers and accelerate the strong presence that Sage and Brightpearl have in the UK and US. Brightpearl’s solution brings significant benefits by automating retail processes so global merchants can save time and deliver outstanding and rapid end-to-end customer experiences. This investment will allow us to expand the platform and provide even better service, increase our product innovation and our fabulous team globally. ”Derek O’Carroll, CEO, Brightpearl
You can read more on Brightpearl's funding round and the Sage partnership via Sage.com