Manchester-based Sorted provides data-driven delivery software – powering dynamic checkouts, delivery management and delivery tracking for retailers around the world. Founded in 2010 by serial entrepreneur David Grimes, the startup has achieved over 400% growth in annual recurring revenue (ARR) in the last year alone.
Sorted has just raised a round of €17 million in a 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 €25 million over the last four years.
“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,” said Grimes. “This new round of funding is validation that Sorted continues to develop ground-breaking technology that delights customers and delivers competitive advantage to retailers.”
The funding will be used to enhance Sorted’s existing technology and accelerate its product roadmap, following the recent launch of its delivery tracking solution, SortedREACT, which joins additional intelligent services in the firm’s product suite, SortedHERO and SortedPRO.
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 the startup has doubled its staff in Manchester to over 100, 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.
“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,” said Mike Fletcher, Chairman of Sorted and Managing Partner of Praetura. “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.”