Gresham House Ventures invests £3.3m into ecommerce enabler Patchworks
4 August 2021
Gresham House Ventures has made a £3.3m investment in Patchworks, a software company helping e-commerce businesses automate and manage data flows across backend systems.
This marks the third investment in the last year for the Gresham House Ventures team in the digital consumer space, as it focuses on the technologies enabling D2C ecommerce offerings which it believes are crucial for the future of the retail space.
The team earlier invested into shipping optimisation software provider Scurri and deals personalisation platform RevLifter.
The investment, made on behalf of the Baronsmead VCTs, will enable Patchworks to bolster sales and marketing capabilities and advance product development, as the business looks to further capitalise on the continued growth of e-commerce.
Patchworks was founded in 2014 and now boasts more than 200 dynamic ecommerce customers – including Lounge Underwear, Gymshark and Huel.
Its software connects key ecommerce systems, including shop front, ERP, CRM and warehouse management, allowing businesses to simplify the integration of their technology stack.
Experienced advisor and private equity operating partner Simon Drane will become non-executive Chair, alongside his NED role at our investee eConsult.
Founder of Patchworks, David Wiltshire says:
“We are delighted that Gresham House Ventures has chosen to invest in Patchworks. They were a natural fit given the team’s ecommerce / tech focus, but most important to us was the cultural fit. The Gresham House Ventures team share our vision for the development of the Patchworks platform going forward.
This investment means so much to us, and will allow us to further innovate, develop and refine our products at an exciting time in a truly innovative sector. From here we have the resources required to bring significant enhancements to our platform and to further scale Patchworks both in the UK and abroad.”
Gresham House Ventures was advised by Richard Wolff on CDD, Equator on TDD, Infinite CFO on FDD, Sam Hoyland on GTM DD, Confidas People on management development, PwC on structuring and Shoosmiths on legals. The company was advised by FMGS.
