Private equity funding for tech firm
Manchester technology business Pimberly has secured a seven figure investment from private equity firm NorthEdge Capital, a deal which follows 12 months of rapid growth since launching onto the regional and global tech scene in 2017.
The growth capital will be invested into product and new business development.
Pimberly has recently been spun off as an independent company following this investment, with CEO Martin Balaam leading the tech brand forward in 2018.
Pimberly’s technology is designed to help retailers, distributors, suppliers and manufacturers who have the challenge of managing vast quantities of product data. The PIM platform enables users to harness and enrich their increasing volumes of product data across multiple channels and regions, increasing sales as a result.
Martin Balaam, CEO of Pimberly, said: “Pimberly represents an awesome opportunity for NorthEdge, and we’re really excited to secure investment from such a significant UK fund. We’re also seeing a lot of interest from other funds at home and internationally, and expect to announce further funding in the near future.
“NorthEdge has been with us from the beginning – from concept all the way through to the customer successes we’re seeing now and we’re delighted to share this journey with them.”
Andrew Skinner, investment manager of NorthEdge Capital, said: “We are very excited to be an anchor lead funder to one of Manchester’s most exciting early stage tech businesses. Pimberly’s innovative technology has the potential to disrupt the market, and we are confident that through Martin’s leadership and this investment in product development, we will see the business continue to expand at pace in the coming years and months.”
