Patchworks has secured £5 million in funding to enhance its North American market presence and accelerate product development, particularly in AI integration, supported by Gresham House Ventures and Palatine Growth Credit.

Information on the Target

Patchworks, a specialist in Retail Integration Platform as a Service (iPaaS), has successfully secured £5 million in its latest funding round. This investment, primarily led by Gresham House Ventures, brings the company's total funding to £16.3 million. Patchworks is focused on enhancing its sales and marketing efforts, particularly in the North American market, where it seeks to capitalize on early traction. The funding will also support product development initiatives, including the integration of advanced AI features.

The company provides retailers with integrated solutions across various platforms such as e-commerce, Enterprise Resource Planning (ERP), Point of Sale (PoS), Product Information Management (PIM), Customer Relationship Management (CRM), Customer Data Platforms (CDP), and fulfillment services. By addressing common operational challenges like overselling, delayed shipments, and manual data entry errors, Patchworks aims to streamline retail processes for its clients.

Industry Overview in the Target's Specific Country

The retail technology sector, specifically iPaaS solutions, has been evolving rapidly due to the increasing complexity of retail operations and the necessity for se