Salesfire expands with £2.75 million backing

A digital firm helping e-commerce retailers grow has unveiled its own expansion plans after £2.75 million backing.

Middlesbrough-based Salesfire has pledged to recruit staff and bolster its software following NPIF II – Mercia Equity Finance support.

Bosses say the company will add more than ten staff over the next two years and introduce new artificial intelligence-powered technology to its digital platform.

The company’s software creates profiles of people visiting companies websites, using behavioural cues to understand their interests and shopping patterns, to help operators boost sales.

It is now developing artificial intelligence technology officials say will provide deeper insights, such as recognising anonymous individuals with different user accounts.

Used by more than 700 brands including Hamleys, Moss Bros and Trespass, the business employs 65 staff and boasts annual recurring revenue of £3 million.

Rich Himsworth, founder and chief executive, said: “Our new artificial intelligence technology will be revolutionary in giving e-commerce retailers scope to identify more anonymous site traffic and open up a whole new world of marketing and data opportunities.

“We are pleased to have the continued support of our investors.”

NPIF II – Mercia Equity Finance is managed by Mercia Ventures as part of the Northern Powerhouse Investment Fund II.

Its latest funding builds on previous Salesfire support in 2022, with the latest round taking its backing of the firm to more than £5 million.

Chris McCourt, of Mercia Ventures, added: “Salesfire’s new technology will make the platform even more powerful, and initial trials have shown it can further increase sales. 

“This investment will enable the business to accelerate its development and further differentiate itself in the market.”

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