In what is effectively a follow-on round, Brightpearl, the cloud software provider for multichannel retailers, has raised $8 million in Series B funding from previous backers Eden Ventures and Notion Capital. Both Eden and Notion seed-backed the UK company, before adding a further $5 million Series A in May 2011. This brings the total raised by Brightpearl to $14.5 million.
Brightpearl provides cloud software for small to medium-sized retailers, which integrates orders, inventory and customer data across multiple retail channels — both online and bricks ‘n’ mortar. The problem that it’s set out to solve is that whilst it’s arguably easier than ever to start an e-commerce business, even a blended off-line/online one, there’s fragmentation in terms of the number of channels that you’re expected to sell into. The headache here occurs when trying to manage stock/inventory across channels, and dealing with things like double-selling, support, delivery, and tracking customers from one channel to another.
Brightpearl’s cloud offering aims to take care of this heavy lifting, helping businesses scale and manage a multitude of SKUs across all of their online and brick-and mortar channels, with a “unified system for inventory, order, and customer data.” The customer data element is particularly noteworthy.
To that end, earlier this month, Brightpearl announced further multichannel support by adding integrations with Amazon, Bigcommerce and Shopify, claiming to make it even easier for retailers to accelerate growth through “more effective merchandizing, better customer data and fully synchronized inventory management”.
Since 2011, the company says that more than $600 million of gross merchandise value has been traded on its Brightpearl Commerce Acceleration Platform.