Brightpearl raises $10 million funding round
Brightpearl, an enterprise platform helping small to medium sized retailers with its cloud based management tools, received $10 million in series C funding round led by MMC Ventures and participated by other investors including Quayle Munro, Eden Ventures and Notion Capital.
The total funding raised for Brightpearl is $23 million including previous investments valued $8 million from last year and $5 million in 2011, respectively. The latest investment would be used for company expenses and push through on investment in products and sales expansion.
According to Brightpearl, the revenue of the company has increased twice over two years. From 2011, the company has already developed merchandise valued $1.3 billion.
Brightpearl has been operating in Bristol with 88 employees working for the company. The startup has been offering cloud based services in multi-channel retail management systems. This system is used for inventory, customer data, reporting, accounting and order integration.