Brightpearl, which allows retailers to streamline their operations thus boosting sales, has raised $33 million in funding to scale its business. This Series C round was led by Sage, which has put $23 million into the U.K. company. Previous backers Cipio Partners, Notion Capital and Verdane also participated, putting in $10 million.
The Bristol, U.K.-based startup has a platform for financial management, CRM, fulfillment, inventory and sales order management, purchasing and supplier management, warehousing and logistics.
Sage now takes a seat on Brightpearl’s board. In a statement it said: “Together, 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.” Brightpearl has existing partnerships with Shopify, eBay and Amazon.
Derek O’Carroll, the chief executive of Brightpearl, said in a statement: “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.”
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