Sorted has revealed an additional $15million fundraising, which will be used to support product development, team expansion and international growth. Almost half of the funding ($7m) was led by an existing investor, Chrysalis Investments.
Sorted says it has seen shipments grow 100% year on year and has already witnessed a 243% growth through its SaaS platform in January 2021 versus January 2020. It has also grown the portfolio of retail brands it supports by more than 50%. New clients include Asda, MusicMagpie, and XPO Logistics.
David Grimes, founder & CEO of Sorted, said: “This investment comes at exactly the right stage of our journey, following a year which has seen more retail opportunities and challenges than any other in the history of ecommerce. Digital transformation has been driven at incredible speed. This significant investment will continue our work in enabling brands to pivot and offer customers a five-star customer experience regardless of challenges in the retail landscape.”
Sorted has also added 28 new staff during lockdown and plans to add another 30 roles over the next year across sales, marketing and tech, as it grows its market share further and continues to expand internationally.