A company that enables retailers to set up and run profitable ecommerce operations has secured £5m funding to expand its services and geographical reach.
In its second found of funding, eCommera has been backed by an investment group led by Frog Capital, a venture capital firm that specialises in the cleantech, IT and digital media sectors, and existing investor West Coast Capital, a private equity firm.
The company was set up in 2007 by Michael Ross, founder of online fashion retailer Figleaves.com, and former BT marketing director Andrew McGregor. It has since worked with more than 20 major retailers, including Asda, House of Fraser, Hamleys, Goldsmiths and Space NK.
eCommera offers consultancy, analytics technology and a hosted ecommerce platform, all of which help retailers drive profit from their ecommerce operations in an increasingly competitive market for online retail, the firm said.
“Closing this second-funding round in an uncertain market is a considerable achievement,” said McGregor, the company’s CEO.
“Our ecommerce dashboard and enterprise class Software as a Service (SaaS) platform helps large global retailers to navigate to profit and growth without the distraction and high cost of managing technology. Just as retailers do not tend to own and build their own high street stores, so we believe the same model will emerge online.”
Mike Reid, managing partner at Frog Capital, added: “eCommera has found a highly attractive sweet-spot. Ecommerce is now critical to retailers, and the eCommera service directly meets their needs.
“With several deal wins this year already, and more to come, this business has great momentum.”
© Crimson Business Ltd. 2009
