£11.5m BGF investment in Sunderland marketing firm
Behavioural marketing firm SaleCycle has received £11.5 million investment from the Leeds office of the Business Growth Fund.
Sunderland-based SaleCycle counts Tommy Hilfiger and Nike among its clients and helps online retailers increase conversion rates and recover abandoned sales.
SaleCycle was founded in 2011 by chief executive Dominic Edmunds and generates £15m in sales annually.
It will use the funding to open offices in Japan and New York and roll-out advancements to its technology platform, moving it to the cloud.
"We have been through a period of significant growth in a relatively short period of time. That is testament to the hard work and inventive ideas from right across the team,” said Edmunds.
"This is an exciting time for the business as we continue to grow upwards and outwards, and commit to ongoing investment in our platform.
“Now is the right time to bring on board an investor that can support that growth over the longer-term, while retaining control of the company.
“We are pleased to be working with BGF and looking forward to driving the future growth of the business."