MOOT, a UK based eCommerce technology company has secured US$18 million in Series A funding. The round, led by Canadian firm, Espresso Capital, will expand Moot’s tech capabilities to facilitate its customers’ domestic and international growth through its bespoke eCommerce technology. The expansion of the platform will enable Moot’s customers – which include Police, HouseBeautiful and Revive Collagen – to navigate cumbersome and disparate systems to tackle multichannel selling, personalisation and internationalisation.
The barrier to eCommerce is incredibly low and growing at a scale like never before. Platforms such as Shopify and WooCommerce provide an excellent starting block for such companies but very quickly reach their limitations when supporting long term growth. Unlike other eCommerce-as-a-service solutions, Moot’s proprietary technology is the only solution that currently provides fast-growth eCommerce brands with AI and ML driven recommendation engines to improve CRO, all the way through to supply chain software. This Series A investment bolsters Moot’s mission to consolidate the fragmented market by taking all the pain points of technology and operations away from brands, in a cost-effective and bespoke end-to-end platform.
Nick Moutter, CEO and founder of Moot says: “For scaling businesses looking to expand their international presence, they’re often faced with expensive and disparate platforms that impede growth and prevent successful businesses from achieving their full potential. By harnessing AI and machine learning capabilities across the entire eCommerce journey under one platform, Moot’s end-to-end platform is empowering fast growth online retailers to effectively operate and scale globally online.”
Will Hutchins, managing director, Espresso Capital comments: “Moot is a leader in the fast-growing EaaS space. Their unique platform combining operational capabilities, advanced user experience, and customer acquisition technology is attracting a growing list of tier-1 global clients. The rapid growth in eCommerce presents a terrific opportunity for Moot and we believe the company has the right team and technology platform to become a global EaaS leader, helping their clients provide highly differentiated eCommerce experiences. We’re excited to be partnering with them on this next exciting phase of their growth.”
In three years, Moot has become one of the UK’s fastest-growing technology companies. The investment will enable Moot to add 80 new employees to its UK headcount over the next few months across its Staffordshire, Swindon and London offices. Having grown by 300 per cent in 2021, Moot is on track to reach £100 million revenue by 2022 year end. The business has ambitious M&A goals for this year with two deals already in the pipeline, and plans to embark on a further bridging round to help bolster the platform’s hyper personalisation AI capabilities.
Share