London, Mon 21 Oct 2019
London and Edinburgh-based e.fundamentals is a market-leading eCommerce analytics platform that helps many of the world’s largest brand owners rigorously improve the sales and profit performance of their products on retailers’ and wholesalers’ websites.
The investment will give e.fundamentals, which already operates in 10 countries, the ability to deliver services in more key eCommerce regions and globally. This will include a launch in the US with a version of the e.fundamentals platform tailored to the needs of the American market.
e.fundamentals’ fund raise has been led by private equity house Maven Capital Partners and supported by long-term investment partners Downing Ventures and Scottish Enterprise.
The funding builds on an exceptional year for e.fundamentals which has thrived with a growing roster of clients – including Weetabix, McCain and Twinings - and ever-increasing market interest in the rapidly developing field of AI-powered eCommerce analytics.
e.fundamentals chief executive John Maltman adds,
“We’re delighted to have secured the support of Maven Capital alongside long-term partners Downing, Scottish Enterprise and our inspiring private backers. The investment gives us the financial resources to expand our business internationally. I’m particularly excited about the huge bank of experience and resources our institutional investors bring to the business.”
Maven Capital Partners, one of the UK’s most active private equity houses, led the funding round. Investment director Gareth Price comments,
“e.fundamentals has developed a sophisticated, yet highly intuitive, insights platform which is already playing an important part in developing and influencing the eCommerce sales and marketing strategies of many high-profile, blue-chip brands. The business is addressing a large and growing market, and its software has proven to deliver its clients a return on investment of at least 4x within one year. Maven is excited to help the senior management team achieve their ambitious growth plans by supporting the company with its continued expansion into the US and Europe.”
Downing Ventures investment director Richard Lewis adds,
“Downing initially invested in e.fundamentals back in 2017 and we are delighted to participate in this latest raise. They are a committed, professional and focused management team and we are excited to further support the business’s continued international expansion plans.”
Scottish Investment Bank director Kerry Sharp said,
“It’s great to see e.fundamentals grow their delivery of eCommerce services at pace. This investment round will help their global expansion and we look forward to supporting them on their growth journey going forward.”
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e.fundamentals is a world-leading eCommerce analytics platform that helps brand owners compete and win online. The technology serves clients by rigorously improving the sales performance of their products on retailer and wholesaler websites.
e.fundamentals gathers and reviews the latest data about brands’ product performance online and presents it each day through the company’s proprietary 8 Fundamentals retail dashboard, and 6 fundamentals wholesale dashboard, allowing clients to quickly action the insights delivering the biggest returns. Many of the world’s leading brand manufacturers use e.fundamentals to manage and improve their eCommerce sales performance.
About Maven Capital Partners UK LLP
Maven Capital Partners UK LLP (Maven) is an independent private equity house focused on the provision of flexible equity and debt funding for UK SMEs, and one of the most active managers in the UK having invested over £450 million in British businesses since 2009.
Headquartered in Glasgow, and with other offices throughout the UK, Maven has over 90 investment and support professionals providing truly nationwide coverage. Maven has £660million funds under management and ready to invest and manages assets for a variety of client funds, including Venture Capital Trusts, UK regional fund mandates, and Maven Investor Partners – a syndicate of institutional, family office and experienced investors.
About Downing LLP
Downing LLP is an investment manager with over 30 years’ experience, more than £1 billion assets under management and approximately 25,000 investors. The business has made a firm-wide commitment to the principles of responsible investment by assessing opportunities for both their profitability and their environment and social impact. Downing believes this approach can make investments more rewarding: rewarding by being profitable for its investors, rewarding by being supportive to the businesses it funds and, through their success, ultimately rewarding for society.
About Scottish Enterprise
Scottish Enterprise is Scotland’s national economic development agency. We’re committed to growing the Scottish economy for the benefit of all, helping create more quality jobs and a brighter future for every region.
The Scottish Investment Bank (SIB) is the investment arm of Scotland’s national economic development agency, Scottish Enterprise, operating Scotland-wide in partnership with Highlands and Islands Enterprise (HIE). SIB’s activities support Scotland’s SME funding market to ensure businesses with growth and export potential have adequate access to growth capital and loan funding.
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