Salesfire, a Middlesbrough, UK-based software firm that helps e-commerce stores drive sales has raised £2 million from NPIF – Mercia Equity Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund (NPIF) as part of a £2.25m funding round.
The investment – which also included funding from a private investor – will enable Salesfire to add more AI-powered features to its platform and double the size of its team, creating around 50 new jobs in the Tees Valley.
Salesfire helps online stores optimize conversion rates by personalizing and enhancing the customer journey.
Rich Himsworth, founder and CEO of Salesfire, said: “Salesfire aims to replicate the in-store experience, where sales assistants and effective signage help customers find the right products and maximize sales. In the current challenging retail environment, it is even more important that online stores make the most of their marketing spend. The investment from Mercia and NPIF will enable us to develop exciting new features to make the platform even more powerful.”
The company now serves over 650 customers, including Moss Bros., Sports Shoes, and Hamleys, and has annual recurring revenue of over £2 million.
Company: Salesfire Ltd
Funding Month: November 2022
Lead Investors: NPIF – Mercia Equity Finance
Company Website: https://www.salesfire.co.uk/
Software Category: Conversion Rate Optimization Solution
About the Company: Salesfire was founded in 2017 by Rich Himsworth, who had previously worked in software and marketing agencies. Salesfire is an award-winning SaaS company specializing in conversion rate optimization, intelligent personalization, and on-site search solutions. Salesfire was developed to replicate the experience of an in-store sales assistant online. From intelligently recommended products to AI-assisted site search, Salesfire underpins every touchpoint in your customer journey to create a seamlessly personalized experience, engaging customers at key moments in their buying journey to increase sales, conversion rates, and revenue. Salesfire empowers retailers to create, deploy, and manage a range of solutions designed to optimize conversion rates, re-engage lapsed customers, and provide a genuinely relevant visitor experience.