Manchester-based online delivery platform Sorted has secured £15m Series B investment – just a few months after announcing a separate £15m raise.
Today’s investment takes the firm’s total funding to more than £35m since its launch in 2010 and will fund product development, international expansion and growth.
Sorted is one of the UK’s fastest-growing tech companies, with its delivery management platform now live in 12 countries, and works with leading retailers including ASOS, N Brown and Lush.
The £15m Series B funding round was led by Merian Chrysalis, alongside Praetura Ventures and NVM Private Equity LLP.
David Grimes, founder and CEO, Sorted, said: “Sorted is rewriting the rules when it comes to delivery, and we’re delighted to be pushing forward with our global growth. 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.”
Sorted currently employs 120 people in the UK and the latest investment will significantly increase the headcount.
Richard Watts, portfolio manager, Merian Chrysalis, said: “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. We are excited to provide David and the team with the growth capital required to continue developing truly innovative technologies and expand internationally.’’
Mike Fletcher, Chairman of Sorted and Group CEO of Praetura, added: “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. Securing this £15m 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.”
Sorted is a global software as a service (SaaS) business which has developed a delivery management platform which allows both physical and digital retailers to effectively manage their delivery and returns proposition.
Through the use of Sorted’s proprietary technology, retailers are able to increase conversion rates, reduce abandoned baskets and increase customer loyalty.
Sorted has developed three highly 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.
Founded in 2010 as MyParcelDelivery Group, the firm rebranded in 2017. Its enterprise-level software processes tens of millions of transactions a year, and gives retailers access to analytics.