Salesfire Raises £2.75m to Help eCommerce Stores Boost Sales

Salesfire has secured a further £2.75m from Mercia Equity Finance, which is managed by Mercia Ventures and part of the Northern Powerhouse Investment Fund II (NPIF II).

The funding will enable us to incorporate our latest AI-powered technology into the Salesfire platform and create over ten new jobs in the next two years.

Our software builds a comprehensive profile of every individual visiting an eCommerce retailer’s website, tracking user activity to understand their shoppers’ interests and behaviour. It enables brands to boost their conversion rate by personalising the customer experience, guiding shoppers through the buying funnel, re-engaging shoppers, and building one-to-one relationships with their customers.

We are currently developing new AI-powered technology that will recognise anonymous shoppers regardless of the device or platform they are using. This will provide retailers with deeper insights into customer behaviour and will be particularly valuable once existing tracking tools, such as cookies, are phased out.

Salesfire is used by over 700 brands including major eCommerce names Hamleys, Moss Bros, Select Fashion, and Trespass. Founded in 2017 by Rich Himsworth, who had previous experience working in software and marketing, we now employ 65 staff and have an annual recurring revenue of over £2m. Our company first received backing from Mercia and NPIF in 2022, and the latest round brings the total raised to date to over £5m.

Rich, our founder and CEO, spoke about Mercia’s support for our upcoming software advancements:

“Salesfire’s mission is to help retailers grow their e-commerce sites and drive revenue. 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.”

Chris McCourt of Mercia also commented on the new investment:

“Salesfire stands out from competitors by offering the type of sophisticated features normally only available in more costly products. 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.”