- 16 August 2019
- Transport / Logistics Services
Manchester based, global delivery business software company Sorted Group has raised £15 million in a Series B funding round. The round was led by Merian Chrysalis Investment Company Ltd, Praetura Ventures and NVM Private Equity LLP.
Since Sorted Group’s launch in 2010 it has now raised more than £35 million in funding.
The company has developed a delivery management platform that allows physical and digital retailers to manage their delivery and returns processes. The system allows the SaaS clients to increase their conversion rates as well as reducing abandoned baskets and ultimately increase customer loyalty.
The Series B funding is there to give Sorted Group additional capital to to accelerate the pace of their technology development and international expansion, as well as increasing employee headcount.
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.”
Richard Watts, portfolio manager, Merian Chrysalis, commented: “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.’’