Brightpearl has raised $5 million in Series A funding from Notion Capital and Eden Ventures – both of which have previously invested in the company.
The money will be used to expand in the United States and in other markets, the company’s cloud offering, says TechCrunch Europe.
Brightpearl offers integrated, web-based accounting solutions, according to TMCnet. The British-based company lets users run their entire business in a single system. It includes several modules, covering eCommerce, inventory management, accounting, CRM, order processing, contact management and CRM, and service desk functions, according to information on the company’s website.
Brightpearl also offers a cloud-based solution for small- to medium-sized enterprises.
The two venture capital firms taking part in most recent funding also gave the startup last year what worked out to $1.5 million.
Brightpearl says it has had “spectacular growth” over the last year, with “tripling” of its “customer acquisition and monthly revenues, TechCrunch Europe reports.
“The company does seem to making significant headway – international growth is encouraging,” TechCrunch Europe adds.
Chris Tottman, a partner at Notion Capital, said in a recent statement (quoted by TechCrunch) that, “We were very confident in our investment in Brightpearl from the start. It has a great product backed up by a very strong team… a fantastic example of a British company succeeding and growing internationally, especially when you consider that the company is just four years old.”
Eden Ventures invests in technology companies in the telecommunications software, enterprise software, SaaS (News
- Alert), digital media, e-commerce, Internet, social media and mobile sectors, according to information on the company’s website.
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Ed Silverstein is a TMCnet contributor. To read more of his articles, please visit his columnist page.
Edited by Jamie Epstein