LONDON, 8th January 2024

Patchworks, a leading Integration Platform-as-a-Service (iPaaS) provider, is thrilled to announce a follow-on investment of £2 million from Gresham House Ventures (GHV) and senior shareholders. This strategic funding, following GHV's initial support in July 2021, reflects the ongoing confidence in Patchworks' vision and growth trajectory.

Patchworks has witnessed an exceptional 76% Year-over-Year Annual Recurring Revenue growth, demonstrating the demand for Patchworks' solutions and retailer reliance on their integration platform. Gresham House Ventures, a key partner to Patchworks, has played a pivotal role in the company's strategic journey. The additional investment will propel Patchworks' ability to drive innovation within its platform and further scale its Go-To-Market activities. 

With over 80 connectors in their arsenal, Patchworks continues to expand its MACH Alliance-approved ecosystem, solidifying its commitment to cutting-edge technology certifications, as well as working closely with leading Technology and Agency Partners. 

Simon Drane, Chairman of Patchworks, emphasised the importance of these strategic steps, stating, "Coming off the back of a very strong year of financial growth and strategic transition under Jim's excellent leadership, we believe these strategic steps in taking further investment, and making key new appointments will position Patchworks for even stronger growth in 2024."

Jim Herbert, CEO of Patchworks, shared his thoughts on the transformative journey of the company, stating, "The past year has been a testament to the dedication and hard work of the entire Patchworks team. In 2023 we transformed the company into a pure software business and launched the world’s most modern iPaaS platform.  We've experienced financial success, and strategic transitions, and now, with this additional investment, we are well-positioned for accelerated growth in the coming year."

The funding announcement aligns with Patchworks' commitment to continuous innovation and expansion. Dave Wileman, an industry veteran with a successful track record, has joined Patchworks as Vice President of Sales and Partnerships. Dave, formerly leading sales in Northern Europe at Shopify, brings a wealth of experience to drive Patchworks' sales initiatives and strengthen strategic partnerships.

Grant Paul-Florence, Investment Director for Gresham House Ventures, endorsed Patchworks as a core portfolio company, stating, "We are thrilled to continue supporting Patchworks on its growth journey. Jim's leadership has been instrumental in the company's success, and with this additional investment, we look forward to seeing Patchworks reach new heights in 2024."

Patchworks remains steadfast in its commitment to simplifying integrations for businesses worldwide, attracting top talent, and driving innovation that shapes the future of connectivity.

For media inquiries, please contact:

Delfina De Moura, Head of Marketing

delfina.de-moura@wearepatchworks.com

About Patchworks:

Patchworks is an integration platform for B2C and B2B e-commerce businesses. Born in the cloud, and with a focus on business users and developers, the platform provides a powerful, user-friendly platform to connect systems through a combination of pre-built connectors and process flows, which can be made available as pre-built apps. 

Patchworks connects key eCommerce systems, storefronts, marketplaces, ERPs, CRMs, and fulfilment solutions, allowing retailers to simplify technology stack integration and do away with point-to-point vendor-specific apps. Patchworks automates the flow of data across the business, allowing the business to scale without overwhelming the operations.

Find out more at www.wearepatchworks.com 

About Gresham House Ventures (GHV):

Gresham House Ventures is a growth equity investor specialised in scaling businesses with business models driven by technology, customer insight or service excellence. Gresham House Ventures aims to work with ambitious management teams who want the support of a flexible long-term investor who brings capital, insight and expertise. 

Gresham House Asset Management is the FCA authorised operating business of Gresham House plc, a London Stock Exchange-quoted specialist alternative asset manager. Gresham House is committed to operating responsibly and sustainably, taking the long view in delivering sustainable investment solutions.

https://www.greshamhouseventures.com