Delivery tech firm Sorted raises 15 million pounds

Global delivery software business Sorted Group has raised 15 million pounds in a Series B funding round led by Merian Chrysalis Investment Company Limited, alongside Praetura Ventures and NVM Private Equity LLP.

The Manchester-based, Sorted, has developed a delivery management platform which allows both physical and digital retailers to effectively manage their delivery and returns proposition and this latest round of investment takes the firm’s total funding to more than 35 million pounds since its launch in 2010.

This funding round will provide the business with “additional capital to accelerate the pace of their technology development and international expansion, as well as increasing employee headcount,” added Sorted in a statement.

Mike Fletcher, chairman of Sorted and group chief executive of Praetura, said: “We first invested in Sorted in 2013 and are delighted with the progress the business has made over the last six years as it has developed its tech platform and won a number of tier one retail clients.

“Securing this 15 million pounds Series B fundraising will allow the business to continue its rapid growth and we look forward to working alongside the Merian Chrysalis team in supporting the business as it scales.”

Manchester-based Sorted to “accelerate” technology development and international expansion following funding round

The investment will allow Sorted to bolster its delivery management platform, which is now live in 12 countries, including the UK, US, France and Germany, and is used by a number of leading companies including Asos, Lush, N Brown, Wincanton and Clipper Logistic.

As one of the he UK’s fastest growing tech companies, Sorted also added that it is committed to “continuing to develop its disruptive technology, while pursuing a strong pipeline of potential retail partners globally”.

Through the use of Sorted’s proprietary technology, retailers are able to increase conversion rates, reduce abandoned baskets and increase customer loyalty. Sorted has three innovative products: SortedHero, an application programming interface solution allowing retailers to display real-time delivery options at checkout; SortedPro, a delivery management platform for carrier and shipping management; and SortedReact, an AI-driven tracking platform that aggregates carrier and delivery communications post purchase.

David Grimes, founder and chief executive of Sorted, said in a statement: “Sorted is rewriting the rules when it comes to delivery, and we’re delighted to be pushing forward with our global growth. The backing from these high-profile investors is testament to the size of the opportunity in front of us. This is a really exciting time as we work harder and faster, partnering with the most innovative retailers in the market.”

Richard Watts, portfolio manager at Merian Chrysalis, added: “The delivery management sector is ripe for disruption and we believe Sorted has emerged as the only credible, global challenger to the current market-leader. We are excited to provide David and the team with the growth capital required to continue developing truly innovative technologies and expand internationally.’’

Merian Chrysalis Investment Company Limited is a Guernsey-domiciled investment company traded on the London Stock Exchange, its recent investments include TransferWise, The Hut Group, Graphcore, Starling Bank and Klarna.

Images: courtesy of Sorted