SaaS platform Salesfire has announced a fundraise of over £3 million to accelerate growth, create 50 new jobs and target the US market.
The fundraise, which includes £2m from NPIF – Mercia Equity Finance, managed by Mercia and is part of the Northern Powerhouse Investment Fund – is part of an overall £3.05m funding round.
Having established a strong employee focussed culture via a company-wide share scheme introduced at the end of 2021 and appointment of directors in 2022, the funding will enable the business to more than double the size of the team and target rapid expansion into the US in 2023.
Salesfire was founded in 2017 by Rich Himsworth whose previous experience includes senior positions at a number of software and marketing businesses. The company now serves over 650 customers including Moss Bros, Sports Shoes and Hamleys, and has annual recurring revenue of over £2m.
CEO, Rich Himsworth says: ‘We’ve established a solid base of operations in the UK and we’re happy our funding partners also recognise how far we can take Salesfire and the products’ global appeal. Marketers across the world are starting to look at new ways to flourish in a challenging retail environment and it’s never been more important for online stores to make the most of their marketing spend.’