A Scottish technology company which helps some of the world’s biggest brands including Weetabix, McCain and Twinings to increase sales and profits has secured a £5.3m investment deal to accelerate its global expansion.
Ecommerce analytics business e.fundamentals, which is based in Edinburgh, already operates in 10 countries and the investment deal will see it also launch in the US.
The company has developed a platform that helps brand owners improve the sales and profit performance of their products on retailers’ and wholesalers’ websites.
The fundraising has been led by private equity house Maven Capital Partners and supported by long-term investment partners Downing Ventures and Scottish Enterprise.
e.fundamentals chief executive John Maltman adds: “The investment gives us the financial resources to expand our business internationally. I’m particularly excited about the huge bank of experience and resources our institutional investors bring to the business.”
Gareth Price, investment director at Maven, said “e.fundamentals has developed a sophisticated, yet highly intuitive, insights platform which is already playing an important part in developing and influencing the ecommerce sales and marketing strategies of many high-profile, blue-chip brands.
“The business is addressing a large and growing market, and its software has proven to deliver its clients a return on investment of at least 4x within one year. Maven is excited to help the senior management team achieve their ambitious growth plans by supporting the company with its continued expansion into the US and Europe.”
Scottish Investment Bank director Kerry Sharp added: “It’s great to see e.fundamentals grow their delivery of ecommerce services at pace. This investment round will help their global expansion and we look forward to supporting them on their growth journey going forward.”
