31 May 2019 – Manchester, UK – Sorted, the global delivery experience company, today announces it has secured £15 million in a recent funding round led by Praetura Ventures and NVM Private Equity LLP. This follows earlier rounds of investment from Praetura and NVM, bringing Sorted’s funding to a total of £22m over the last four years.
The funding will be used to accelerate Sorted’s ambitious global product roadmap, following the recent launch of its revolutionary delivery tracking solution, SortedREACT, which joins additional intelligent services in the firm’s product suite: SortedHERO and SortedPRO. Specifically, the funding will enable Sorted to enhance its existing technology, using its data-rich platform to further allow retailers to bridge the gap between what customers expect and what retailers can offer when it comes to delivery.
Sorted will also use the funding to support strategic hires across the business – from developers to sales, marketing and finance functions. Over the past 12 months employee headcount in Manchester has doubled to over 100 staff, with plans to hire an additional 50 seats in the next 12 months. Sorted has also invested heavily in its office space, Sorted House, to ensure its team has an incredible environment to work in – leading to the company being voted one of the region’s most inspiring spaces.
Founded by serial entrepreneur David Grimes, Sorted has gone from strength to strength, achieving over 400% growth in annual recurring revenue (ARR) in the last year alone. The retail delivery tech company also has plans to accelerate growth in ARR over the next 12 months on the back of winning a number of marquee retail clients. The company now counts major brands, such as Missguided, Footasylum, Feelunique and Lush, amongst its growing client base.
David Grimes, founder and CEO at Sorted, said: “In an environment where consumers’ delivery experience increasingly determines retailers’ financial performance, technology that enlists the voice of the consumer is critical to driving revenue. This new round of funding is validation that Sorted continues to develop ground-breaking technology that delights customers and delivers competitive advantage to retailers.”
Mike Fletcher, Chairman of Sorted and Managing Partner of Praetura, said: “Manchester is a bedrock for innovation in the retail and technology space – already the home of pure play fashion disruptors and with a vibrant tech scene – and Sorted’s tech credentials are well placed to help retailers to reimagine what delivery looks like. Its continued and impressive growth trajectory is underpinned by an already robust tech stack and the latest round of funding will drive the roadmap forwards to fuel further growth.”
Sorted’s funding sits outside of Praetura Ventures’ ongoing 2019 EIS fund, which will be announced in early June.
Montana Gerry, W Communications
About Sorted Group
Sorted is refreshingly agile and data-driven delivery software – powering dynamic checkouts, delivery management and delivery tracking around the world. Through partnerships with some of the biggest global carriers and customer-obsessed retailers, Sorted transforms the delivery experience into a delight, for everyone who touches it.
They have invested over £22m over the last ten years, with software now live in 9 countries with brands such as Missguided and Lush. The Sorted team pride themselves on helping to close the gap between what customers expect and what retailers offer, when it comes to delivery.
Sorted solutions provide both retailers and carriers with a competitive advantage in the market, through a set of commercial and customer service benefits which are not currently available through their existing partnerships:
- SortedHERO is the API solution displaying personalised delivery options to the customer, creating a dynamic checkout.
- SortedPRO is simple DC delivery management – single-integration carrier and shipping software.
- SortedREACT is powerful delivery tracking, giving control to customer care teams and self-service convenience for customers.
About Praetura Ventures
Praetura Ventures Limited is registered in England and Wales at Companies House. The registered office is at Third Floor, Giant’s Basin, Potato Wharf, Castlefield, M3 4NB. Company number 11439791. Praetura Ventures is an Appointed Representative of Rudolf Wolff, which is authorised and regulated by the Financial Conduct Authority. Capital is at risk.