Middlesbrough-based Salesfire has secured £2.75 million in funding to advance its AI technology.
- The investment comes from NPIF II – Mercia Equity Finance, a part of the Northern Powerhouse Investment Fund II.
- Salesfire is set to create over ten new jobs within the next two years with this financial boost.
- The firm’s AI-driven technology personalises the online shopping experience, enhancing conversion rates for retailers.
- The latest AI developments will allow deeper insights into customer behaviour, crucial as traditional tracking tools phase out.
In a promising development for Middlesbrough’s tech scene, Salesfire, a well-known name in ecommerce solutions, has managed to raise £2.75 million from NPIF II – Mercia Equity Finance. This significant investment is a part of the Northern Powerhouse Investment Fund II and marks another step forward for the company in integrating cutting-edge AI technology into its offerings.
Salesfire has ambitious plans to use this funding to create more than ten new jobs in the upcoming two years. This development aligns with the company’s mission to refine its platform which utilises behavioural analytics to tailor customer experiences, ultimately steering shoppers more effectively through the purchasing process.
The core of Salesfire’s software lies in its ability to construct detailed visitor profiles and interpret user behaviours to enhance engagement and conversion rates. This advanced use of AI will soon include features that can identify unidentified users across multiple accounts, a crucial ability as traditional tracking methods such as cookies become obsolete.
Since its inception in 2017 by Rich Himsworth, Salesfire has expanded its reach, now serving over 700 brands including Hamleys and Moss Bros. The latest round of funding elevates the company’s total capital raised to over £5 million, showcasing continued investor confidence.
Founder and CEO Rich Himsworth commented on this milestone, stating that the new Salesfire AI technology would revolutionise the capacity to identify anonymous site traffic, unlocking extensive marketing and data possibilities. “We are excited to lead in AI advancements within ecommerce,” he added.
The endorsement from Mercia Ventures underscores Salesfire’s unique market position with sophisticated yet cost-effective features. Chris McCourt from Mercia Ventures highlighted the potential of Salesfire’s AI technology to empower platforms and boost sales, reinforcing the investment’s strategic importance.
Salesfire’s latest funding round positions it strategically to lead AI innovation in ecommerce, fostering significant growth opportunities.
