Salesfire, an ecommerce software specialist from Middlesbrough, has successfully secured £2.75 million in funding.
- The investment comes from the Northern Powerhouse Investment Fund II, managed by Mercia Ventures.
- This financial boost will aid in the integration of advanced AI technologies into Salesfire’s platform.
- Salesfire aims to enhance online retail by personalising customer journeys and boosting conversion rates.
- The company plans to expand its workforce with over ten new roles, signifying growth and innovation.
Salesfire, based in Middlesbrough, has secured a significant investment of £2.75 million to enhance its innovative ecommerce platform. This capital injection, sourced from NPIF II – Mercia Equity Finance, part of the Northern Powerhouse Investment Fund II, marks a critical step in Salesfire’s ongoing development and adaptation to technological advancements.
The primary objective of this funding is to integrate cutting-edge AI technology into the Salesfire platform. This technology aims to offer deeper insights into customer behaviours by analysing behavioural cues and recognising anonymous users across various accounts. Such advancements are particularly timely as the industry transitions away from traditional tracking mechanisms such as cookies.
Salesfire’s AI-driven software is designed to construct detailed profiles of website visitors, enabling retailers to tailor the shopping experience and guide customers effectively through the purchasing process. This has a dual benefit: increasing conversion rates and fostering customer retention by re-engaging users beyond their initial visits.
Founded in 2017 by Rich Himsworth, Salesfire has grown under his leadership and boasts a clientele of over 700 brands, including well-known names like Hamleys and Moss Bros. The company, which currently employs 65 staff and generates £3 million in annual recurring revenue, views this latest round of funding as a means to further its mission of driving ecommerce growth.
Rich Himsworth, the CEO, commented on the strategic goals of Salesfire, saying that the new AI technology would revolutionise how retailers identify and utilise insights from anonymous site traffic. This technology opens up new marketing and data opportunities, enhancing Salesfire’s competitive edge.
Chris McCourt from Mercia Ventures expressed confidence in Salesfire’s capacity to differentiate itself in the marketplace. He praised the company for offering sophisticated features often reserved for more expensive products. The latest AI enhancements are projected to bolster sales further, enabling faster development and a stronger market position.
The investment marks a pivotal moment for Salesfire as it spearheads innovation in the ecommerce sector with its sophisticated AI solutions.
