UK e-commerce optimization startup Salesfire, which helps retailers optimize customer journeys using AI to increase engagement, personalize experiences, and drive sales, has raised £2.75 million to integrate its AI technology and create new jobs. The funding came from NPIF II – Mercia Equity Finance, managed by Mercia Ventures.
- Founded in 2017 by Rich Himsworth, Salesfire develops an AI-based platform that aids retailers optimize customer journeys by creating detailed profiles of website visitors.
- The platform uses behavioral cues to understand individual interests and shopping behavior, allowing retailers to personalize the customer experience, guide shoppers through the buying funnel, and improve conversion rates.
- The company is currently developing advanced AI to gain deeper insights into customer behavior, such as recognizing anonymous users across accounts. This will help retailers maintain effective personalization and targeting as cookies are phased out.
- Salesfire employs a team of 65 and has an annual recurring revenue of £3 million. The startup serves around 700 brands, including Hamleys, Moss Bros, Select Fashion, Sportsshoes.com, and Trespass.
Details of the deal
- The round was backed by NPIF II – Mercia Equity Finance, managed by Mercia Ventures, as part of the Northern Powerhouse Investment Fund, which supports Northern England startups with loans from £25,000 to £2 million and equity investments up to £5 million.
"Its new AI 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," explains Chris McCourt, VC investor at Mercia Ventures.
- The fresh funds will enable the startup to integrate its latest AI-powered technology into its platform and expand the team with over ten specialists in the next two years.
"Our new Salesfire AI technology will be revolutionary in giving them scope to identify more anonymous site traffic and opening up a whole new world of marketing and data opportunities. We are pleased to have the continued support of our investors in this latest round and really excited to be at the forefront of AI in e-commerce," Founder and CEO of Salesfire, Rich Himsworth, commented.
