Peerius secures £1.2 million from Beringea Growth Finance
May 14th 2014
Funding will accelerate European expansion and support research and development
(London, UK) Peerius, the UK’s and Europe’s largest provider of personalisation software, has received growth finance of £1.2 million from Beringea Growth Finance, part of Beringea, the manager of the ProVen VCTs.
Peerius’ suite of SMART products allows each retail client to treat every visitor to its website as an individual. Peerius uses complex algorithmic software to ensure that clients’ customers feel unique in being offered exactly what they want. This provides a better user experience for the customer and increased sales for the client. Clients include leading retailers Arcadia Group, Charles Tyrwhitt, Tommy Hilfiger, notonthehightstreet.com, Appliances Online, Wickes and Superdry.
Established in 2007 by Roger Brown, Peerius has grown to be the UK’s and Europe’s market leader in personalisation solutions for multi-channel and pure-play retailers. This injection of funds will allow it to continue to invest in, and refine, its software, and to continue its European expansion. Peerius already has a significant presence in Germany, which has the largest online retail market in Europe, and is well placed to expand from its base in Berlin.
Roger Brown, CEO of Peerius said: ‘We were particularly impressed by the Growth Finance team at Beringea because their significant experience meant they were decisive, understood our needs, offered good business suggestions and were able to work quickly to provide the funds. Their business acumen and agility mirrored our sector knowledge and our need to work quickly in this competitive sector.”
Mark Taylor, Head of Beringea Growth Finance, said: “Peerius is an impressive company, with an inspiring management team, who have made significant progress in an exciting market. This growth finance, which was concluded in just eight weeks from agreeing terms to advancing funds, will give them more flexibility to maximise their opportunities for growth.”