Foresight leads round to support growth of Fresh Relevance, a personalisation platform optimising customers’ eCommerce experience
- Foresight funds have made a follow-on investment into Fresh Relevance alongside management
- Accelerating omni-channel product development to enable digital marketers and eCommerce professionals to drive revenue and increase customer engagement
- Investment into growing sales and product teams and scaling internationally
London, 26 May 2021: Foresight Group LLP (“Foresight”), a listed infrastructure and private equity investment manager, is pleased to announce a further investment into Fresh Relevance (“the Company”), following on a record quarter of growth for the Company, to accelerate product roadmap roll out and support scaling. Some of the management team have participated in the funding round, demonstrating strong support for the business and its growth.
Based in London, Fresh Relevance is a SaaS-based personalisation and decision engine for online businesses and was co-founded in 2013 by Mike Austin, Pete Austin and Eddy Swindell. Fresh Relevance’s versatile platform analyses transactional data in real-time and optimises the customer experience across email, website, mobile & app, and social media. With over forty technology partners and off-the-shelf integrations, Fresh Relevance helps marketers and eCommerce professionals automate their customers’ journey, improve conversion, increase customer loyalty, and drive online sales.
Fresh Relevance currently supports over 350 customers, including major brands across the UK, Nordics and US. Core features include triggered emails, product recommendations, social proof, behavioural and geotargeting, popovers, dynamic content, testing, reporting and data analysis.
Fresh Relevance’s clients making full use of the platform on average see an additional £255k for every £1m turnover, an additional 25% increase in online sales.
Commenting on the investment, Mike Austin, CEO of Fresh Relevance, said:
“This past year has accelerated the shift to eCommerce by five years and created significant growth opportunities for online businesses as a result. With the further investment from Foresight, we will expedite our expansion into Europe and the US. We will also accelerate product development in three key areas – ease of use, understanding the shopper and influencing their journey – to enable digital marketers and eCommerce professionals to increase customer engagement and revenue.” Mike continued: “We are pleased Foresight has continued to support us on our path to becoming the leader in eCommerce personalisation.”
Georges Berzgal, Chair of Fresh Relevance, further noted:
“Foresight’s investment is a testament to the acceleration of eCommerce adoption we’ve seen in the past couple of years. It is also a strong endorsement of our strategy and the incredible progress that the Fresh Relevance team has made in offering clients a unique and intelligent, but low-code platform that enables personalised customer journeys across a multitude of channels. This follow-on investment will enable us to scale the business faster and to a broader set of segments, not just in the UK but also abroad.”
Lindsay Duebendorfer, Investment Manager at Foresight, added:
“Fresh Relevance has achieved impressive growth, has nearly doubled its customer lifetime value since initial investment, and has continued to innovate. We remain excited about the team, the market position and are looking forward to continuing the journey.”
For more information contact:
Citigate (PR to Foresight):
Will Easton: [email protected] / +44 (0) 7860 753146
Notes to Editors
About Foresight Group LLP (“Foresight”):
Foresight is a leading listed infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 35 years.
Foresight has c.£7.2 billion of Assets Under Management across a number of funds, including Listed Vehicles, Limited Partnerships, Enterprise Investment Schemes (EISs), Venture Capital Trusts (VCTs), Inheritance Tax Solutions using Business Relief (BR) and Open-Ended Investment Companies (OEICs).
Foresight’s Private Equity Team, comprising over 30 investment professionals, manages c. £700 million in a portfolio of more than 100 companies and pursues four discrete but complementary investment styles: Venture, Impact, Growth and Replacement Capital through its growing regional office network.
Foresight was a commended finalist in the Best Venture Capital Trust Provider category at the 2020 Investment Life & Pensions Moneyfacts Awards. Foresight was named ‘Fund Manager of the Year’ at the PLC Awards last year, ‘Generalist VCT of the Year’ at the Investment Week Tax Efficiency Awards 2018/19 and was a finalist in the 2018 Unquote British Private Equity Awards as Venture and Growth Capital House of the Year.
Foresight’s largest office is in London with regional UK offices in Edinburgh, Manchester, Nottingham, Milton Keynes, Leicester, Cambridge and Guernsey and international offices in Sydney, Rome, Madrid, and Luxembourg.
About Fresh Relevance
Fresh Relevance is the versatile personalisation and decision engine to optimise the customer experience across channels. We empower marketing, CRM, eCommerce and merchandising teams to design and execute highly effective personalisation campaigns from start to finish – no technical expertise needed. The platform integrates seamlessly with the existing tech stack, joins up data silos and offers powerful solutions to optimise the customer experience across the website, emails and app. The result: improved conversions, customer value and retention.
Fresh Relevance has offices in London, Southampton and Boston, Massachusetts.