Tech City-backed software start-up eCommera scores £24m to help crack US market
The firm’s software processed and analysed more than $3bn in online orders in 2013
London firm eCommera has secured $41 million (£24.6 million) to help it expand its retail-focused big data platform to North America and beyond.
The start-up, headquartered off Oxford Street, provides retailers with software that helps them manage orders, sell across platforms and better use customer data.
The firm, which was founded in 2007 and is part of Tech City's year-long Future Fifty programme for selected high-growth businesses, said over 20 new retailers and brands were added to its customer base in 2013, bringing the total number of businesses on its books up to 70. Customers include Asda, House of Fraser, Neiman Marcus, Brooks Brothers, Lifetime Brands, Bouclair, and Clarins.
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Andrew McGregor, CEO of eCommera, said the company sees significant global opportunity as retailers adopt new software and systems to command the next generation experiences and operations.
"We are already one of the largest cloud-software and service companies in the European market and this investment will enable us to accelerate our global growth, with specific focus on the North American market,” he said.
Venture capital firm Dawn Capital led the Series C funding round, which was also backed by West Coast Capital, Frog Capital, ePlanet Capital, WPP and new partner Wti.
Norman Fiore, managing partner at Dawn Capital, said: “We have reached a tipping point as bricks and mortar retailers aggressively rise to the challenge from pure online players. eCommera impressed us with their game-changing technology that enables retailers to increase profitability and deliver compelling customer experiences from first touch-point to final fulfilment.”
In addition the HQ just off Oxford Street, the company has offices in Asia, Europe and North America, and has been included in the Sunday Times Tech Track 100 for the past three years.