Sorted lands £15m to grow retail delivery platform
Written by Peter Walker
Delivery experience company Sorted has secured £15 million in a recent funding round led by Praetura Ventures and NVM Private Equity.
This follows earlier rounds of investment from Praetura and NVM, bringing Sorted’s funding to a total of £22 million over the last four years.
The funding will be used to accelerate its ambitious global product roadmap, following the recent launch of its delivery tracking solution, SortedREACT. Specifically, the money will enable Sorted to enhance existing technology, using its platform to allow retailers to bridge the gap between what customers expect and what retailers can deliver.
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.
Founded by serial entrepreneur David Grimes, the retail delivery tech company also has plans to accelerate growth in annual recurring revenue over the next 12 months on the back of winning clients like Missguided, Footasylum, Feelunique and Lush.
“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,” commented Grimes. “This new round of funding is validation that Sorted continues to develop ground-breaking technology that delights customers and delivers competitive advantage to retailers.”