Gresham House Ventures has made a follow-on investment of £1.75 million into Patchworks, a software company helping eCommerce businesses automate and manage data flows across complex IT systems.
The investment, in the form of a convertible loan note, is Gresham House Ventures’ fourth in Patchworks and forms part of a £2m round which will fund global expansion.
It takes Gresham House Ventures’ total investment in the business to £10.5m since its first injection of capital in July 2021.
Patchworks offers software that connects key eCommerce systems including shopfront, ERP, CRM and warehouse management, enabling businesses to streamline the integration of their technology stack.
Its software is used by leading eCommerce businesses including Huel, Gymshark and Lounge Underwear.
“Our relationship with Gresham House Ventures has already played a significant role in driving our recent success,” said Jim Herbert, CEO at Patchworks.
“This latest investment positions Patchworks for even stronger growth in 2024, with our platform becoming increasingly established as the most effective solution on the market to seamlessly integrate complex systems with minimal effort.”
Grant Paul-Florence, director of investment at Gresham House Ventures, added: “We have continued to be impressed by Patchworks’ management team and the business’s sustained growth in recent years.
“Our previous investments have supported Patchworks in broadening its product offering and expanding its client base, so we are excited to see the business go from strength to strength with this additional funding as it develops its software platform further this year.”