London e-commerce integration platform secures £4m funding under new CEO

Integration platform Patchworks has received a further £4m in funding from growth equity specialists Gresham House Ventures to accelerate product development and innovation.

This latest round follows investments totalling £4.8m over the past two years, bringing the total investment to £8.8m since its first round in August 2021.

Patchworks is investing the funding to further enhance its low code / no code self-serve integration platform, completion of its microservice, api-first, cloud native roadmap and further improvements within the professional services and support teams.

These changes will consolidate Patchworks as the “best choice” for integrating e-commerce platforms such as Adobe Commerce, BigCommerce, commercetools, Shopify or WooCommerce with platforms like Oracle NetSuite, Linnworks, Sage Brightpearl, Microsoft Dynamics 365, PeopleVox, and Lightspeed to name a few.

Since 2014, Patchworks has helped dozens of brands create “friction-free” customer journeys, from athleisure brands such as AYBL and Gym+Coffee, to beauty brands like Trinny London. It now boasts a portfolio of over 200 e-commerce customers, including major names such as Huel, Gymshark, Lounge Underwear, Castore, Cox & Cox and Simba Sleep.

With its platform capable of bulk processing, Patchworks has enabled many of its clients to scale rapidly since bringing the integration provider on board. In 2022, Patchworks’ clients processed over 300 million transactions which is an estimated £2bn worth of orders.

Patchworks also supports retailers during the busiest periods, during Black Friday/Cyber Monday 2022, Patchworks processed over 1.7 million orders, with the total orders rising by 31 per cent compared to November 2021. Transactions, when any entity is pulled through, from refunds to stock levels, also increased by 8.6 per cent to 24.2 million.

Simon Drane, chairman of Patchworks, commented: “Patchworks has had an amazing journey over the past two years. The investment from Gresham House Ventures has enabled the business to more than double recurring revenues, launch new products and win some amazing new clients.

“We now have a clear vision as a board on areas that we need to focus on, and this new round of funding will enable us to deliver on those areas under the leadership of our excellent new CEO Jim Herbert.”

Grant Paul-Florence, director of investment at Gresham House Ventures, added: “This latest investment will enable Patchworks to strengthen its product offering further and cement its position as a go-to provider for ecommerce businesses looking to achieve scale and seamlessly integrate their backend systems.”

By Matthew Neville – Senior Correspondent, Bdaily

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