Sorted eyes global expansion following £15 million in funding
Sorted Group, a UK-based software as a service (SaaS) business, has secured £15 million in a Series B funding, taking the firm’s total funding to over £35 million since its inception in 2010.
The investment is expected to help Sorted develop its technology and pave the way for overseas expansion.
Alongside Praetura Ventures and NVM Private Equity, the round was led by Merian Chrysalis Investment Company.
Mike Fletcher – chairman of Sorted and Group CEO of Praetura said: “Securing this £15m Series B fundraising will allow the business to continue its rapid growth and we look forward to working alongside the Merian Chrysalis team in supporting the business as it scales.”
Sorted aims for global expansion following £15 million in funding. Photo courtesy of Sorted Group ltd.
Sorted’s delivery management platform will enable both physical and digital retailers to manage their delivery and returns.
Using the company’s proprietary technology, retailers can increase conversion rates and customer loyalty as well as reduce basket abandonment.
David Grimes – founder and CEO, Sorted said: “Sorted is rewriting the rules when it comes to delivery, and we’re delighted to be pushing forward with our global growth.
“The backing from these high-profile investors is testament to the size of the opportunity in front of us.
“This is a really exciting time as we work harder and faster, partnering with the most innovative retailers in the market.”
Sorted products include SortedHERO, an application for retailers to display real-time delivery options at checkout; SortedPRO, a delivery management platform for carrier and shipping management; SortedREACT, an AI-driven tracking platform for carrier and delivery communications post purchase.
Richard Watts – portfolio manager, Merian Chrysalis said: “The delivery management sector is ripe for disruption and we believe Sorted has emerged as the only credible, global challenger to the current market-leader.
“We are excited to provide David and the team with the growth capital required to continue developing truly innovative technologies and expand internationally.’’