Summary
Sorted, led by founder David Grimes from its city centre HQ, has secured £15m in a funding round led by Praetura Ventures and NVM Private Equity. The investment brings the company's total funding to £22m over four years.
The capital will fund product development across its SortedREACT, SortedHERO and SortedPRO platforms, which help retailers manage customer delivery expectations. Sorted will also hire 50 additional staff in Manchester on top of its existing 100-strong workforce, and expand office space at Sorted House.
The company reported 400% annual recurring revenue growth in the past year and counts major retailers including Lush, Missguided and Feelunique among its clients. The funding reflects growing demand for retail delivery technology as consumer expectations reshape retailer performance.
Read the full story at Manchester Evening News
This is a summary written for the Manchester Business Services register. The full article belongs to Manchester Evening News — read it at source.
Common questions
- What is this article about?
- Sorted, a Manchester-based delivery software company, has raised £15m in funding to accelerate product development and hiring. The round brings total funding to £22m and follows 400% revenue growth in the past year.
- When was this published?
- This article was published on 30 May 2019.
- Who published this article?
- This article was published by Manchester Evening News.