The latest funding round by software company Pimberly will lead to further expansion into the US and Europe.
The Manchester-based company’s product information management (PIM) and digital asset management (DAM) software helps businesses increase e-commerce sales.
The £4m was raised from NPIF-Mercia Equity Finance, managed by Mercia and part of the Northern Powerhouse Investment Fund (NPIF), and Mercia’s own funds.
This takes the total amount raised by the company to date to over £14m.
Pimberly’s platform is used by many leading brands including Footasylum, Monsoon, JD Sports, Cotton Traders, Dover Sadlery and Harvey Nichols.
Mercia and NPIF first invested in Pinbury in 2018. Since its last funding round in 2021, the company has grown its UK staff from 47 to 75, doubled its client base to around 115, and opened a US office in New York.
We also added AI capabilities to our platform to improve its ability to process complex data and create engaging, SEO-optimized product experiences. Pinbury expects to create around 20 jobs in the UK over the next two years and expand its team across the US and Canada.
CEO Martin Balaam said: “Large e-commerce companies now sell on multiple marketplaces around the world, which means they need to list their products on many different sites and in different languages. Enrich your product information with rich data, images, videos, and 3D visuals to help improve your customers’ shopping experience.
“Our growth to date would not have been possible without the support of our investors, and we are pleased to have their continued support. It shows that people don’t have to look outside their region and can get the investment they need right on their doorstep.”
Debbie Sorby, senior manager at British Business Bank, said: Product Information Management (PIM) and Digital Asset Management (DAM) software provides this, delivering solutions to global customer networks to enhance economic performance at scale.
The Northern Powerhouse Investment Fund remains dedicated to helping companies like Pinbury grow by providing capital to support their ambitions, drive jobs and provide further growth opportunities. Masu. This is something he plans to continue pursuing with his upcoming launch of NPIF II. ”
Marcia invested from managed NPIF funds and Northern Venture Capital Trust (VCT).
Will Clark, Managing Director of Mercia Ventures, said: “The North West of England has a strong track record in e-commerce, which stems from its earlier role as a center for the mail order catalog industry and textile trade.
“Pinbury is building on its heritage and is gaining recognition as a global leader in its field. The company is steadily expanding and has a strong foothold in the US market. This latest investment is , Martin and the team will help accelerate growth and take the business to the next level.”