Retail investment
A Middlesbrough software company that helps e-commerce stores drive sales has raised £2.25million.
£2m of Salesfire’s funding comes from NPIF – Mercia Equity Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund (NPIF).
The investment – which also included funding from a private investor – will enable Salesfire to add more AI-powered functionality to its platform and double the size of its team, creating around 50 new jobs in the industry. Tees Valley.
Salesfire helps online stores optimize conversion rates by personalizing and improving the customer journey. Its quick site search allows visitors to see an almost instant set of product results, making it easier for them to find what they are looking for.
The platform also makes smart product recommendations and delivers targeted messaging to entice visitors to take action or complete their purchase.
Salesfire was founded in 2017 by Rich Himsworth who previously worked in software and marketing agencies. The company now serves over 650 customers, including Moss Bros, Sports Shoes and Hamleys, and has an annual recurring turnover of over £2 million.
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“Salesfire aims to replicate the in-store experience, where sales associates and effective signage help customers find the right products and maximize sales,” Himsworth said.
“In today’s challenging retail environment, it’s even more important that online stores get the most out of their marketing spend. Mercia and NPIF’s investment will allow us to develop exciting new features to make the platform even more powerful.
Will Clark of Mercia said, “Salesfire is the only platform of its kind that offers this level of functionality at a price that is accessible to businesses of all sizes.
“Rich leads a dynamic team that understands the needs of e-commerce businesses and continues to grow the user base. This investment will allow them to take their product to the next level and target the global market.
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