E-commerce integration provider, Patchworks, has received a further £4 million in funding from Gresham House Ventures.
This follows investments totalling £4.8 million over the past two years, bringing the total investment to £8.8 million since the firm’s first round in August 2021.
Patchworks is investing the cash on enhancing its low code/no code self-serve integration platform, completion of its microservice, API first, cloud native roadmap and further improvements within the professional services and support teams.
It says that these changes will consolidate it as “the best choice for integrating e-commerce platforms such as Adobe Commerce, BigCommerce, commercetools, Shopify or WooCommerce with platforms like Oracle NetSuite, Linnworks, Sage Brightpearl, Microsoft Dynamics 365, PeopleVox, and Lightspeed to name a few.”
Simon Drane, Chairman at Patchworks, says: “We have had an amazing journey over the past two years.”
“The investment from Gresham House Ventures has enabled the business to more than double recurring revenues, launch new products and win some amazing new clients.”
“We now have a clear vision as a board on areas that we need to focus on, and this new round of funding will enable us to deliver on those areas under the leadership of our excellent new CEO Jim Herbert.”
Grant Paul-Florence, Director of Investment at Gresham House Ventures, comments: “Our previous investment in Patchworks has played a significant role in supporting its recent growth and we are confident that the business can continue to go from strength to strength over the coming years as it grows its market share.”
“This latest investment will enable Patchworks to strengthen its product offering further and cement its position as a go-to provider for ecommerce businesses looking to achieve scale and seamlessly integrate their backend systems.”
Herbert says: “Gresham House Ventures has been a fantastic partner to Patchworks to date, and this additional funding ensures that current and future customers will have the world’s best integration platform at the heart of their commerce stack.”
“With new offerings such as Patchworks BI and Stockr, and continued improvements to the dashboard, based on user and agency experience, merchants have the tools they need to improve profitability in this economy”.
