Patchworks Media (t/a Patchworks) secures £3.3 million Series A investment from Gresham House Ventures

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Gresham House Ventures invests £3.3m into ecommerce enabler Patchworks

Gresham House Ventures – a growth equity investor specialising in software and digitally driven businesses in the consumer, healthcare and service sectors – has made a £3.3m investment in Patchworks, a software company helping e-commerce businesses automate and manage data flows across backend systems.

This marks the third investment in the last year for the Gresham House Ventures team in the digital consumer space, as it focuses on the technologies enabling D2C ecommerce offerings which it believes are crucial for the future of the retail space. The team earlier invested into shipping optimisation software provider Scurri and deals personalisation platform RevLifter.

The investment, made on behalf of the Baronsmead VCTs, will enable Patchworks to bolster sales and marketing capabilities and advance product development, as the business looks to further capitalise on the continued growth of e-commerce.

Patchworks was founded in 2014 and now boasts more than 200 dynamic ecommerce customers – including Gymshark, Lounge Underwear and Huel. Its software connects key ecommerce systems, including shop front, ERP, CRM and warehouse management, allowing businesses to simplify the integration of their technology stack.

The investment is led by Henry Alty, Investment Director at Gresham House Ventures, and will see fellow Investment Director Rupesh Patel join the board of Patchworks after the investment. Experienced advisor and private equity operating partner Simon Drane will become non-executive Chair alongside his NED role at Gresham House Ventures investee eConsult.

Gresham House Ventures was advised by Richard Wolff on CDD, Equator on TDD, Infinite CFO on FDD, Sam Hoyland on GTM DD, Confidas People on management development, PWC on structuring and Shoosmiths on legals. The company was advised by FMGS.

Henry Alty, Investment Director, Gresham House Ventures, says:

“Patchworks provides key integrations to ecommerce stores, partnering with some of the best-known and fastest-growing retailers and technology vendors to automate and manage the flow of data across an entire business.

“Patchworks has achieved impressive growth on personal resources to date and it is poised to continue on this path. With Rupesh on the board and Simon as non-executive Chair, Patchworks will be able to leverage our expertise and that of our contacts in helping technology businesses scale, while the capital injection will allow the business to accelerate sales, marketing and product development efforts – taking it to the next stage of growth.”

Founder of Patchworks, David Wiltshire says:

“We are delighted that Gresham House Ventures has chosen to invest in Patchworks. They were a natural fit given the team’s ecommerce / tech focus, but most important to us was the cultural fit. The Gresham House Ventures team share our vision for the development of the Patchworks platform going forward.

This investment means so much to us, and will allow us to further innovate, develop and refine our products at an exciting time in a truly innovative sector. From here we have the resources required to bring significant enhancements to our platform and to further scale Patchworks both in the UK and abroad.”

ENDS

About Gresham House Ventures and Gresham House

Gresham House Ventures is a growth equity investor specialised in scaling businesses with business models driven by technology, customer insight or service excellence. Gresham House Ventures aims to work with ambitious management teams who want the support of a flexible long-term investor who brings capital, insight and expertise. The team has been working together for over 10 years and has made over 100 investments into growth businesses.

Gresham House Asset Management is the FCA authorised operating business of Gresham House plc, a London Stock Exchange-quoted specialist alternative asset manager. Gresham House is committed to operating responsibly and sustainably, taking the long view in delivering sustainable investment solutions.

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Safiya Marzook

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