Sorted Group raise £15million funding after 400% growth
Huge congratulations to the Sorted Group who have just raised a round of £15 million in a funding round led by Praetura Ventures and NVM Private Equity LLP. This comes after initial rounds of investment from Praetura and NVM, bringing Sorted’s funding to a total of £22 million over the last four years.
The Sorted Group emerged from myParcelDelivery to build a data-driven delivery software suite with SortedHERO, a dynamic checkout solution with personalised options, SortedPRO for carrier management and a powerful tracking solution with SortedREACT.
Having been founded in 2010 and based in Manchester, Sorted saw growth of 400% in annual recurring revenue in the last year alone.
“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. This new round of funding is validation that Sorted continues to develop ground-breaking technology that delights customers and delivers competitive advantage to retailers.”
– David Grimes, founder and CEO, Sorted
The Sorted Group will also use the funding to support strategic hires across the business – from developers to sales, marketing and finance functions. They have doubled their staffing to 100 in the past year and now have plans to hire an additional 50 in the next 12 months, all housed in their flagship headoffice, Sorted House in Manchester.
“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. 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.”
– Mike Fletcher, Chairman, Sorted and Managing Partner, Praetura