I am delighted to share with you the news that Brightpearl is entering into a new relationship with Sage PLC after the firm made a minority investment of $23M (£17M) into the Brightpearl platform.
In addition, our existing shareholders participated with further investment, meaning we raised a total of $33M (£25M).
The impact of Covid-19 on the retail industry has accelerated shifts in business models, routes to market, changing consumer demands, and the need for investment in new technologies and Brightpearl has demonstrated its ability to support merchants to remain agile under changing trading conditions. We’ve seen the number of online firms joining our platform grow by 75% in the last quarter of 2020 alone.
Our new partnership with Sage will further accelerate our growth in the markets we serve by increasing investment to expand our North American HQ in Austin Texas and fund further technical innovation to secure Brightpearl’s position as the #1 platform of choice for fast growing retailers.
This investment is a huge milestone and a testament to the brilliant people that work at Brightpearl – our culture is our number one differentiating factor. The deal will help us to support our people further, provide an even better service for our customers and significantly expand and grow our platform.
I am very excited about the opportunities this investment presents. The relationship opens up many opportunities, with the added credibility of being backed by a well known and respected global brand in Sage.
2021 is set to be an exciting year for Brightpearl and we look forward to executing the strategic plans linked to this investment round and building on the tremendous success we have seen at Brightpearl. Watch this space!
Derek O’Carroll,
CEO
Brightpearl
Note: for more information on Brightpearl’s latest Series C round, please visit the media section of the Brightpearl website, here.
