Manchester-based logistics startup Sorted has developed a delivery management platform that allows physical and digital retailers to effectively manage their deliveries and returns.
The startup has raised €16.5 million in a Series B funding round led by Merian Chrysalis, alongside Praetura Ventures and NVM Private Equity LLP. This comes on the heels of the company’s raise of €17 million in May, following a year of 400% revenue growth. Today’s investment takes the firm’s total funding to more than €38.4 million since its launch in 2010.
The funding will provide the business with additional capital to accelerate the pace of their technology development and international expansion, as well as increasing employee headcount.
Through the use of Sorted’s proprietary technology, retailers are able to increase conversion rates, reduce abandoned baskets and increase customer loyalty. Sorted currently offers three innovative products:
- SortedHERO, an application programming interface solution allowing retailers to display real-time delivery options at checkout
- SortedPRO, a ground-breaking delivery management platform for carrier and shipping management
- SortedREACT, a powerful AI-driven tracking platform that aggregates carrier and delivery communications post purchase.
Sorted is one of the UK’s fastest growing tech companies, with its software now live in 12 countries, including the US, France and Germany. Working with a number of leading companies including ASOS, Lush, N Brown, Wincanton and Clipper Logistics, Sorted is continuing to develop its disruptive technology, while pursuing a strong pipeline of potential retail partners globally.
“Sorted is rewriting the rules when it comes to delivery, and we’re delighted to be pushing forward with our global growth,” said David Grimes, founder and CEO, Sorted. “The backing from these high-profile investors is testament to the size of the opportunity in front of us. This is a really exciting time as we work harder and faster, partnering with the most innovative retailers in the market.”
“The delivery management sector is ripe for disruption and we believe Sorted has emerged as the only credible, global challenger to the current market-leader,” said Richard Watts, portfolio manager, Merian Chrysalis. “We are excited to provide David and the team with the growth capital required to continue developing truly innovative technologies and expand internationally.’’
“We first invested in Sorted in 2013 and are delighted with the progress the business has made over the last six years as it has developed its tech platform and won a number of tier one retail clients,” said Mike Fletcher, Chairman of Sorted and Group CEO of Praetura. “Securing this £15 million Series B fundraising will allow the business to continue its rapid growth and we look forward to working alongside the Merian Chrysalis team in supporting the business as it scales.”