Manchester-based SaaS product information management (PIM) and Digital Asset Management (DAM) platform provider Pimberly has sets its targets a ten-fold increase in its annual recurring revenue.

The tech firm passed its $1m annual milestone earlier this year and now plans to reach $1om.

The firm’s platform acts as a central hub for omnichannel product data, including descriptions, specifications, sizing, pricing, availability, imagery and videos for multiple brands, currencies and geographies.

It is designed to help retailers, distributors and manufacturers expand into new marketplaces and territories.

The company has secured contracts with leading UK brands including JD Sports, Freeman Grattan, Regatta and Card Factory.

Pimberly’s growth follows investment from NorthEdge Capital and the UK Government.

This has enabled the company to double its headcount to 40 in the last 12 months.

The team is now in the process of expanding its headquarters, taking two floors within St James’s Tower in central Manchester and investing in more staff for product development, go to market and customer success.

“As new Enterprise B2B SaaS companies will know, getting your first paying clients is a huge milestone, enabling you to focus on getting to the nirvana of the $1m ARR target,” said Martin Balaam, CEO of Pimberly.

“It’s also a real indication that companies are increasingly focussing on their eCommerce strategies to fuel growth and can see the value that automated and effective product information management can have on their operational efficiency, their customer service and their bottom lines.

“This is a hugely exciting time for tech in the North West and we’re delighted to be a part of its success.”