eCommerce-As-A-Service Taps Into VC Support

Shutterstock

A U.K.-based Commerce-as-a-Service startup has scored new support from venture capitalists, reports said Tuesday (Jan. 19).

Brightpearl, which provides retail management software for merchants and wholesalers, secured about $11 million from backers, led by Eden Ventures, with participation from MMC Ventures and Notion Capital, reports said.

[bctt tweet=”B2B SaaS firm Brightpearl secured about $11 million from backers.”]

Brightpearl said it plans to use the funding to gain some traction in the U.S. market, as well as support its support and service teams.

“This is an exciting time for Brightpearl,” stated Silicon Valley Bank Director Andrew Hunter. Silicon Valley Bank is an earlier backer of Brightpearl, having lent money to the startup alongside Columbia Lake Partners, reports said.

“We’re delighted to provide debt funding at this milestone, enabling the team to accelerate growth in 2016 and beyond,” Hunter added. “The software Brightpearl provides its clients makes a big difference to their businesses, enhancing their ability to scale rapidly and stay efficient.”

The company provides omnichannel services to retailers and wholesalers, as well as inventory management. As a holistic solution, Brightpearl said it combines accounting, inventory, POS and other aspects of the retail and wholesale process into a single software service.

Brightpearl added that more than 1,400 sellers currently use its solution across the globe.

Last year, Brightpearl teamed up with a major eCommerce player: Alibaba. The collaboration enabled corporate customers of Brightpearl to procure goods from the Alibaba site via the “Source from Alibaba.com” app. The solution automates several aspects of the procurement process, including supplier information data entry.