Sorted announces $15m fundraise as online deliveries continue to soar
Sorted’s shipments grow 100% year on year, and the company has already seen a 243% growth through its SaaS platform in January 2021 versus January 2020
Sorted named by the FT as one of fastest growing companies in Europe
(firmenpresse) - Manchester, 30th March 2021: Sorted, the global delivery experience pioneer, has raised $15m in growth capital after another consecutive record year helping retailers to deliver products to customers worldwide with the boom in online sales. $7m of this funding was led by an existing investor, Chrysalis Investments.
The growth capital supports the acquisition of a number of leading brands, as the SaaS tech delivery disruptor plans to further support the retail industry’s digital transformation – accelerated as a result of the COVID-19 crisis. The capital will also support product development, growth in the team, and global expansion plans.
From January to December 2020, Sorted saw a phenomenal 100% increase in shipment volume versus the whole of 2019, and the Manchester-founded scale up grew its portfolio of leading retail brands by over 50%, including Asda, musicMagpie, and XPO Logistics (the No. 1 Fortune 500 supply chain solution provider facilitating 10 million global ‘last mile’ deliveries each year). In January 2021 alone, Sorted saw a 243% growth through its SaaS platform in comparison to the same period in 2020. This growth of shipment volumes running through the Sorted platform is representative of the adoption of agile technology which has helped some of the biggest global ecommerce brands respond to the changing retail landscape. Sorted’s delivery experience software assists with ship from store propositions and ensures a smooth post-purchase customer delivery experience.
Richard Watts, Fund Manager at Chrysalis Investments, said: “We are delighted to provide Sorted with additional capital which will enable them to execute their ambition growth strategy. The recent pandemic has accelerated channel shift and Sorted are well placed to benefit from this trend, evidenced recently by some very exciting enterprise customer wins.”
Mike Fletcher, Chairman of Sorted and Managing Partner at Arete Capital Partners LLP, adds: “As consumer demand for rich customer delivery experiences soars, Sorted is having a huge impact on the retail industry. As it continues to support retailers to better serve their customers, the company’s incredible growth so far is a journey that I’m proud to be a part of,” says Fletcher.
David Grimes, founder & CEO of Sorted commented: “This investment comes at exactly the right stage of our journey, following a year which has seen more retail opportunities and challenges than any other in the history of ecommerce. Digital transformation has been driven at incredible speed, and I’m proud of how our team at Sorted has stepped forward to support an industry undergoing such tremendous change. This significant investment will continue our work in enabling brands to pivot and offer customers a five star customer experience regardless of challenges in the retail landscape. We’re thrilled to see our investors back our goal to shake up the delivery and logistics sector, with our sights now set on expanding the same service and quality across the global stage.”
The company’s significant growth is also reflected in its new staff, having grown throughout 2020 by adding 28 new hires in lockdown alone, and recruiting key Exec hires such as Tim Cox, Chief Technology Officer, Dan Greenall, Marketing Director, David Latham, Finance Director, Oyin Bamgbose, Head of Sales Operations, and Shaun Kelly, Head of Solutions Architecture. Sorted plans to add another 30 roles over the next year across sales, marketing and tech, as it grows its market share further and expands into new international markets.
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Datum: 30.03.2021 - 06:14 Uhr
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