Salesfire, a Middlesbrough-based ecommerce firm, has secured a £2.75 million investment from a key fund.
- The funding is sourced from NPIF II – Mercia Equity Finance, managed as part of the Northern Powerhouse Investment Fund.
- This financial boost aims to integrate advanced AI technology into Salesfire’s platform.
- The company anticipates creating over ten new jobs within the next two years as a result.
- Salesfire’s AI innovations aim to enhance personalized customer experiences and increase sales.
Middlesbrough’s Salesfire has successfully attracted £2.75 million in funding from the Northern Powerhouse Investment Fund II. This investment, managed by Mercia Ventures, highlights confidence in Salesfire’s potential to leverage AI technology in ecommerce.
The funding will empower Salesfire to integrate its cutting-edge AI-powered technology into its platform, creating opportunities for a more personalized customer journey. The platform’s AI capabilities will allow retailers to understand their customers’ behaviors and preferences, optimizing the buying process for both parties.
In addition to enhancing its technology, Salesfire plans to expand its workforce by more than ten employees over the next two years. This growth is a direct result of the new investment and emphasizes the company’s commitment to innovation and development within the ecommerce space.
Salesfire’s software efficiently profiles shoppers visiting a company’s site, using behavioral data to tailor the shopping experience. By providing insights into customer behavior, the platform supports retailers in boosting conversion rates and building one-to-one consumer relationships.
The new AI advancements are set to offer deeper insights into customer behavior, especially as traditional tracking methods like cookies face phase-out. Salesfire’s innovative approach will help identify anonymous site visitors and expand marketing opportunities, marking a significant leap in ecommerce technology.
Founded by Rich Himsworth in 2017, Salesfire has grown to employ 65 staff members and boasts an annual recurring revenue of £3 million. The company services over 700 brands, including renowned names like Hamleys and Moss Bros, demonstrating its substantial industry impact.
Rich Himsworth, the founder and CEO, expressed excitement about the potential of their new AI technology, emphasizing its revolutionary capabilities in attracting anonymous site traffic and unlocking new data opportunities. He appreciates the support from investors, highlighting the importance of being at the forefront of AI implementation in ecommerce.
Mercia Ventures’ Chris McCourt praised Salesfire’s unique offerings, usually reserved for more expensive platforms. He anticipates the new AI technology will increase Salesfire’s market edge and enhance sales outcomes based on initial promising trials.
Salesfire’s recent investment positions it well to lead AI advancements in ecommerce, promising significant growth and innovation.
