News - July, 2018
Munich/Luxembourg – July 26, 2018 – Cipio Partners leads US$15 million growth round along existing investors Notion Capital and MMC in Bristol-based Brightpearl Ltd.
Cipio Partners announces that it is leading a US$15 million growth round in Brightpearl, the world’s largest purpose-built retail ERP platform, to help drive further expansion. Cipio Partners also bought out several smaller equity positions in the company.
More than 1,000 brands rely on Brightpearl’s back office automation platform to transact more than US$1.8 billion of trade across 26 countries. Brightpearl has seen a 77% increase in year-on-year new business growth and delivered 34% revenue growth in the last 12 months alone. Brightpearl was recently voted the top SaaS company to work for in Britain, beating companies such Microsoft, Adobe and LinkedIn.
“Our mission is to enable intelligent retail” says Brightpearl CEO, Derek O’Carroll. “We’ve experienced tremendous growth over the last year because of our ability to service the need from fast-growing brands for a solution that automates their operational processes and supports real time decision making, which is absolutely vital in today’s culture of immediacy for retailers and wholesalers.”
Speaking on the growth round Roland Dennert, a Managing Partner at Cipio Partners, adds: ”A big reason why Brightpearl’s retail ERP platform is catching on fast is that it provides multichannel retailers with a step-change improvement in ERP implementation time while being on feature parity or better for the targeted market than much more complex ERP solutions.”
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