eSellerPro has raised £2M from Notion Capital to drive ambitious expansion plans.
London, 30 September 2010 – eSellerPro has raised £2M from Notion Capital to drive ambitious expansion plans. Using its unique technology to capitalise on the growth in the ecommerce market and a move towards online marketplaces, eSellerPro has experienced exponential growth since the business was founded in 2006 and its platform already processes more than £150M in annual sales. The funding will enable the company to invest in a number of important areas including sales, marketing and customer service to further drive and support huge demand across the UK, European and US markets.
eSellerPro has tapped into the explosive growth of UK online retail spending, which has nearly tripled in the past four years1. Online marketplaces, such as eBay and Amazon, give retailers access to a much larger customer base but the resulting challenge has been how to keep everything up to date and manage multiple outlets. The eSellerPro ecommerce platform solves this problem by integrating the whole online sales process with existing internal systems. Customers can sync their back office systems and processes, including inventory, delivery and invoicing, with any ecommerce application, including a wide range of online marketplaces – helping them manage all their off-line and on-line channels in a truly integrated way.
“eSellerPro is an important partner for many of our larger sellers. They make it quick and easy to sell on our platform. Closer integration with their internal systems means customers are leveraging investments they have already made,” said Joe Tarragano, Head of European Integration, eBay.
Notion Capital was attracted by the unique technology behind the eSellerPro platform and a revenue generating business model that has resulted in a growth rate of more than 100% a year. The underlying technology is highly scalable and can be easily integrated with almost any new online marketplace, enabling customers to sell across more platforms and boost revenues.
“The past and predicted growth of the ecommerce market makes this a very exciting area to be investing in,” said Ben White, founding partner at Notion Capital, an investment fund for Internet-based services. “eSellerPro not only has unique technology in the ecommerce sector but also directly links through to the bottom line by enabling customers to tap into new markets and ultimately sell more. For more and more people ecommerce is becoming an easier and faster way to find and buy things, and eSellerPro is extremely well placed to take advantage of this.”
By 2012, the value of the UK online retail market is expected to have grown by 130% since 2008, with consumers spending more online and increasing frequency of purchases2.
“eSellerPro has already proven itself in the UK’s ecommerce market with a high lead conversion rate, and is now poised to make further in-roads into the US and Europe to position itself as the market leader in the ecommerce synchronisation space.” said Ben White.
“The UK online retail market is expected to be worth 13.8% of the total retail market by 2012. This represents a huge growth opportunity for eSellerPro and allows us to strengthen our development and support infrastructure,” said Chris Farrelly, CEO at eSellerPro. “The Notion Capital investment provides us with a cash injection and direct access to a team with significant experience of scaling businesses quickly and globally.”
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1 Source: UK e-retail 2008, Verdict Research
2 Source: UK e-retail 2008, Verdict Research
eSellerPro is a complete ecommerce management system that integrates the whole online sales process, simplifying and automating tasks such as inventory management, product listing and scheduling, sales order processing, payment and dispatch, customer communications and accounts posting, saving you time and money and leaving you free to concentrate on growing your business.
About Notion Capital
Notion Capital is a venture fund and advisory business that invests in growth businesses in the IT sector, with a particular focus on Internet based services with recurring revenue models. Notion Capital creates value by helping companies and management teams to accelerate growth through financial injection combined with strategic and operational participation. The partners are all proven entrepreneurs and line executives, having founded and built a number of highly successful IT businesses. For more information please visit: www.notioncapital.com
Notion Capital press contacts:
Nicky Savage / Rebecca Gregory / Simon Matthews
0207 842 3200 / 3243