Tech firm Sorted accelerates growth after securing £15m funding.
Sorted will also use the funding to support strategic hires across the business – from developers to sales, marketing and finance function.
Manchester-based Sorted, the online delivery platform, has secured £15m in a recent funding round to accelerate its growth.
Sorted, which is led by founder and CEO David Grimes, operates online delivery software platform for global retailers from its HQ in the city centre.
The recent funding round led by Praetura Ventures and NVM Private Equity, follows earlier rounds of investment, bringing Sorted’s funding to a total of £22m over the last four years.
The funding will be used to accelerate Sorted’s ambitious global product roadmap, following the recent launch of its delivery tracking service, SortedREACT adding to its other products SortedHERO and SortedPRO.
Specifically, the funding will enable Sorted to enhance its existing technology, using its data-rich platform to further allow retailers to bridge the gap between what customers expect and what retailers can offer when it comes to delivery.
Sorted will also use the funding to support strategic hires across the business – from developers to sales, marketing and finance functions.
Over the past 12 months employee headcount in Manchester has doubled to over 100 staff, with plans to hire an additional 50 in the next 12 months. As a result it has also invested heavily in its office space, Sorted House.
Sorted has gone from strength to strength since its launch achieving over 400% growth in annual recurring revenue (ARR) in the last year alone.
The retail delivery tech company also has plans to accelerate growth in ARR over the next 12 months on the back of winning a number of marquee retail clients.
The company now counts major brands including Missguided, Footasylum, Feelunique and Lush, amongst its growing client base.
David said: “In an environment where consumers’ delivery experience increasingly determines retailers’ financial performance, technology that enlists the voice of the consumer is critical to driving revenue.
“This new round of funding is validation that Sorted continues to develop ground-breaking technology that delights customers and delivers competitive advantage to retailers.”
Mike Fletcher , chairman of Sorted and managing partner of Praetura, said: “Manchester is a bedrock for innovation in the retail and technology space – already the home of pure play fashion disruptors and with a vibrant tech scene – and Sorted’s tech credentials are well placed to help retailers to reimagine what delivery looks like.
“Its continued and impressive growth trajectory is underpinned by an already robust tech stack and the latest round of funding will drive the roadmap forwards to fuel further growth.”
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