An Edinburgh-based e-commerce analytics firm has secured a major £5.3m investment to further drive its international expansion.
e.fundamentals helps many of the world’s largest brand owners to ‘rigorously improve the sales and profit performance of their products on retailers’ and wholesalers’ websites.’
The investment will give the platform, which operates in 10 countries, the ability to deliver services in more key e-commerce regions and globally. This will include a launch in the US with a version of the e.fundamentals platform tailored to the needs of the American market.
e.fundamentals’ fund raise has been led by private equity house Maven Capital Partners and supported by long-term investment partners Downing Ventures and Scottish Enterprise.
The funding builds on an exceptional year for e.fundamentals which has thrived with a growing roster of clients – including Weetabix, McCain and Twinings – and ever-increasing market interest in the rapidly developing field of AI-powered ecommerce analytics.
e.fundamentals chief executive John Maltman said: “We’re delighted to have secured the support of Maven Capital alongside long-term partners Downing, Scottish Enterprise and our inspiring private backers. 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.”
Maven Capital Partners Investment director Gareth Price 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.”
Downing Ventures investment director Richard Lewis said: “Downing initially invested in e.fundamentals back in 2017 and we are delighted to participate in this latest raise. They are a committed, professional and focused management team and we are excited to further support the business’s continued international expansion plans.”
Scottish Investment Bank director Kerry Sharp said: “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.”
Related posts
Interviews
Comment
We need to shout about our successes. Liz Fletcher on celebrating women in biotech
Throughout my career in biotechnology and life sciences, I have seen many women leading ground-breaking research studies in their fields of expertise. Yet, and I include myself in this, we…
Getting the best out of patient data is key to unlocking future health benefits in Scotland
It is important that clinicians’ voices are heard in the consultation around Scotland’s new health and care data strategy, which closes this week (12 August). Busy GPs like myself are the trusted…
How motherhood helped me be a better leader
Consider this an open letter to anyone I have worked with before I became a mother and before I fully understood how being a parent is actually a prized asset…
‘We cannot achieve our goals without entrepreneurs’ – Kate Forbes on vision for new ‘tech scaler’ network
From the very start of my ministerial career, I have had responsibility for the Scottish tech sector – and I can still say what I have said from the start,…
Finding a role in cyber was ‘tough’ for Cheryl Torano. Now she’s determined to help other women join an under-represented industry
When I decided to upskill to change careers at the age of 30 and dive into the digital world, I knew I would be starting out at the bottom of…
Why innovation and marketing are the perfect partners to make changes that matter
With the rapid evolution of traditional marketing and the appearance of digital marketing, technology and innovation has become part of any marketer’s life without the need of working for a…
Transitioning to a four-day week – CEO’s vow to strike a healthier balance in the workplace
I came to Scotland nearly 20 years ago from Ireland, with no contacts but a lot of determination. While Ireland will always be my home, Scotland has given me amazing…
Women Lead: The female-led company championing intuitive working
Over the last two years, the pandemic forced a shift to more remote and flexible working practices. Whilst we might be seeing a “return to normal”, some companies are choosing…