In what is effectively a follow-on round, Brightpearl, the cloud software provider for multichannel retailers, has raised $8 million in Series B funding from previous backers Eden Ventures and Notion Capital. Both Eden and Notion seed-backed the UK company, before adding a further $5 million Series A in May 2011. This brings the total raised by Brightpearl to $14.5 million.
Brightpearl provides cloud software for small to medium-sized retailers, which integrates orders, inventory and customer data across multiple retail channels — both online and bricks ‘n’ mortar. The problem that it’s set out to solve is that whilst it’s arguably easier than ever to start an e-commerce business, even a blended off-line/online one, there’s fragmentation in terms of the number of channels that you’re expected to sell into. The headache here occurs when trying to manage stock/inventory across channels, and dealing with things like double-selling, support, delivery, and tracking customers from one channel to another.
Brightpearl’s cloud offering aims to take care of this heavy lifting, helping businesses scale and manage a multitude of SKUs across all of their online and brick-and mortar channels, with a “unified system for inventory, order, and customer data.” The customer data element is particularly noteworthy.