RevLifter has raised a £3.3 million Series A round led by a syndicate of new investors who believe its eCommerce deals personalisation platform is ready to scale its offer globally.
RevLifter’s latest funding round is led by Gresham House Ventures and Maven Capital Partners, who believe the pandemic has heightened the need for greater personalisation in the retail sector.
The company reports to be on track to almost treble its YoY revenue in 2020, after continuing to serve new and existing customers with personalisation across customer deals and promotions.
Clients including retailers Harvey Nichols, Very, HP, Currys PC World and The Hut Group, along with telecoms providers AT&T, BT Broadband and EE, use RevLifter to eradicate the wastage associated with blanket promotions and instead offer real-time, hyper-personalised deals that drive up basket value and encourage higher spend per customer.
RevLifter said it plans to take advantage of a rapid acceleration in the shift to online as a result of the pandemic, which has reportedly increased by 50 per cent in the past six months.
Harvey Nichols, synonymous with high-end luxury and personalised shopping, used RevLifter to engage its VIP customers in multiple markets and languages. The retailer achieved a conversion rate 8x higher than their on-site average and a 41 per increase in average order value compared to the on-site average, RevLifter says.
RevLifter co-founder and CEO Simon Bird said: “We’re delighted to welcome both Gresham House Ventures and Maven Capital Partners into the RevLifter fold.
“We’ll be using the investment to capitalise on our leadership position in this market and continue our rapid expansion into new markets. The US currently accounts for about 60 per cent of our revenues but there’s growing demand that we’re primed to meet across EMEA and APAC in particular.”