Series A12 July 2022

Patchworks secures £1.5m Series A follow-on investment from Gresham House Ventures to expand into Europe

Gresham House Ventures backed the retail integration platform with a follow-on investment to power international growth.

£1.5MSeries A

Patchworks provides an integration platform that connects modern retail systems to automate data flows and prevent operational silos. The company helps merchants link their ecommerce, warehouse, and finance software without lengthy implementation cycles.

Retail integration specialist Patchworks has secured £1.5m in a Series A follow-on funding round from growth equity firm Gresham House Ventures. The capital follows an initial £3.3m investment made in August last year and will be deployed to accelerate the company's expansion into European markets.

Over the preceding twelve months, Patchworks processed approximately £1.5bn in orders and doubled its recurring revenue alongside a 51 percent increase in client numbers. The platform connects storefronts such as Shopify and BigCommerce with back-end enterprise resource planning and customer relationship management tools.

The latest injection of funds follows a period of product development that included the launch of three new offerings, namely Patchworks Platform, Patchworks BI, and Stockr. The business also grew its headcount by 53 percent over the same timeframe.

From the founder

"Patchworks has had a phenomenal year of growth in a fast moving and expanding market. A year on from the investment from Gresham House Ventures the business has more than doubled recurring revenues, launched new products, won some amazing new clients, established a strong senior leadership team, and has now secured follow-on investment to fuel faster growth. Patchworks has had a great start to its investment period."

Simon Drane

Chairman at Patchworks

Investor perspective

"Middleware enables retailers to grow and save, while choosing the best tools for the job – making Patchworks the perfect business to support companies developing great customer journeys. We’re delighted to continue our investment with them as they scale up. Exciting times!"