Global “delivery experience” company, Sorted, has received £15m in its latest funding round, led by Praetura Ventures and NWM Private Equity.
The Manchester-based company, which works with Missguided, Footasylum and Lush, has had a total investment of £22m over the last 4 years.
The cash will be used to enhance its existing technology and employ an additional 50 staff in Manchester – including developers, sales, marketing and finance.
It will be investing in its delivery tracking technology, SortedREACT, SortedHERO and SortedPRO and using its data to allow retailers to bridge the gap between “what customers expect and what retailers can offer” when it comes to delivery.
“In an environment where consumers’ delivery experience increasingly determines retailers’ financial performance, technology that enlists the voice of the consumer is critical to driving revenue,” explained CEO and Founder, David Grimes.
“This new round of funding is validation that Sorted continues to develop ground-breaking technology that delights customers and delivers competitive advantage to retailers.”
Sorted currently employs 100 staff at its Sorted House head office and reported 400% growth in annual recurring revenue in the last 12 months.
“Manchester is a bedrock for innovation in the retail and technology space – already the home of pure play fashion disruptors and with a vibrant tech scene – and Sorted’s tech credentials are well placed to help retailers to reimagine what delivery looks like,” added Mike Fletcher, Chairman of Sorted and Managing Partner of Praetura.
“Its continued and impressive growth trajectory is underpinned by an already robust tech stack and the latest round of funding will drive the roadmap forwards to fuel further growth.”
