This is the third investment for the Gresham House Ventures team in the digital consumer space this year, as it focuses on the technologies enabling D2C ecommerce offerings which it believes are crucial for the future of the retail space.
The investment will enable Patchworks to bolster sales and marketing capabilities and advance product development.
Patchworks was founded in 2014 and now has ipaas provider a roster of more than 200 clients and partners – including Gymshark, Shopify and Zwift. Patchworks software connects key ecommerce systems, including shop front, ERP, CRM and warehouse management, allowing businesses to simplify the integration of their technology stack.
The investment will see Rupesh Patel join the board of Patchworks and experienced advisor and private equity operating partner Simon Drane will become non-executive Chair.
Founder and MD of Patchworks, David Wiltshire says:
“We are delighted that Gresham House Ventures has chosen to invest in Patchworks. They were a natural fit given the team’s ecommerce / tech focus, but most important to us was the cultural fit. The Gresham House Ventures team share our vision for the development of the Patchworks platform going forward.
This investment means so much to us, and will allow us to further innovate, develop and refine our products at an exciting time in a truly innovative sector. From here we have the resources required to bring significant enhancements to our platform and to further scale Patchworks both in the UK and abroad.”
Henry Alty, Investment Director, Gresham House Ventures, says:
“Patchworks provides key integrations to ecommerce stores, partnering with some of the best-known and fastest-growing retailers and technology vendors to automate and manage the flow of data across an entire business.
“Patchworks has achieved impressive growth on personal resources to date and it is poised to continue on this path. With Rupesh on the board and Simon as non-executive Chair, Patchworks will be able to leverage our expertise and that of our contacts in helping technology businesses scale, while the capital injection will allow the business to accelerate sales, marketing and product development efforts – taking it to the next stage of growth.”