Growth surges at e commerce business on back of multimillion-pound tech investment
A Worcester-based e-commerce business says it has accelerated growth by 180% over the last 12 months after investing £3m in the development of its tech platform Eiger.
Originally established in 2016 as a single category e-commerce business, Boulevard now partners with more than 200 brands across 17 different categories to consumers UK wide across core marketplaces like Amazon and OnBuy.
The company says that key to its success has been the development of Eiger, a platform which was originally created to manage its supply chain and enable the business to easily sell products without having to invest in masses of stock.
Now a complete end-to-end solution that enables Boulevard to successfully manage the entire process of online selling for its growing supplier base, Eiger delivers all operations from supply chain management to marketplace listings and order fulfilment.
It uses sophisticated algorithms to test product popularity, monitor stock levels and fulfil orders within competitive timeframes, enabling its suppliers to maximise revenue and optimise margin.
As such, Boulevard is fast becoming a leading marketplace super seller and is now on track to exceeding £10m in turnover.
This comes 12 months after the tech business received £2.2m in seed investment from early and growth stage VC, Fuel Ventures.
Dominic Portman, founder and CEO of Boulevard, said: “Since we finalised our seed round with Fuel Ventures in September 2021, the Boulevard team and I have worked incredibly hard to evolve the Eiger platform, onboard a host of new manufacturers, distributors and brands and firmly establish our position as a marketplace super seller.
“Not only does Eiger provide use with a real USP when compared to other marketplace sellers, it also offers our partners unique insights and incredibly valuable datasets that enable us to make fast and effective decisions on product lines to boost revenue. With Amazon completely dominating the marketplace sector and owning 42% market share of the entire eCommerce space, we know that marketplace selling is the future and look forward to helping more and more suppliers establish their brand and product lines in this space over the months and years to come.”
Headquartered in Worcester city centre, Boulevard is a member of the Fuel Ventures portfolio and now employs a team of 70 e-commerce and tech specialists.
