Brightpearl, which provides a cloud-based integrated suite of applications for SMEs, has secured $5 million in Series A funding from Notion Capital and Eden Ventures. Both VC firms have previously backed the Bristol, UK-based startup to the tune of $1.5m.
Founded in 2007 by Chris Tanner, Brightpearl’s pitch to SMEs is that its SaaS helps take away the pain of implementing information systems and lets business owners get on with actually running their business. The new investment will be used by the company to expand faster in the U.S. and other markets and further its cloud offering that includes accounting, CRM, order and stock management, ecommerce and helpdesk capability.
To that end, Brightpearl claims “spectacular growth” over the last year, including tripling both its customer acquisition and monthly revenues, which given the lack of raw numbers is pretty meaningless.
But either way, the company does seem to making significant headway – international growth is encouraging, notes its investors – and with Notion and Eden’s cash, it potentially has the required rocket fuel to boot.
In a canned statement, Chris Tottman, partner at Notion Capital, chimes in: “We were very confident in our investment in Brightpearl from the start. It has a great product backed up by a very strong team… a fantastic example of a British company succeeding and growing internationally, especially when you consider that the company is just four years old.”