E-commerce platform set for growth with £750,000 NPIF investment

PureClarity, the e-commerce personalisation platform, is targeting business growth after securing a £750,000 investment from NPIF – Mercia Equity Finance.

This is the York-based company’s second round of investment from NPIF this past year, bringing the total amount to £1.25m.

The money raised will allow PureClarity to enhance its product, speed up implementation times and bolster marketing campaigns, resulting in the creation of eight new jobs.

Launched in 2017, PureClarity uses artificial intelligence to analyse customers’ behaviour and deliver a personalised customer experience through product recommendations, personalised marketing campaigns, personalisation within search as well as email.

The platform was developed by a five-strong team of IT and digital marketing specialists led by CEO Dr Paul Gibson.

Gibson said: “We are extremely excited to receive the next round of funding. Our advanced ecommerce personalisation solution is developing at a fast rate and our clients are experiencing fantastic results with  increased online revenue of 26%.

“This investment reflects not only the confidence in our company growth but also the unique service we are providing within the Artificial Intelligence field. Our plans to advance our AI platform and extend our marketing reach globally will help facilitate and expedite this success.”

The NPIF – Mercia Equity Finance is managed by Mercia Fund Managers and part of the Northern Powerhouse Investment Fund.

Emma Cross, investment executive with Mercia Fund Managers, added: “We have great confidence in the management team of this innovative business which has identified a niche in the e-commerce market. This latest round of funding will enable them to extend their market exposure and scale up the operation both nationally and internationally.”

Grant Peggie, director at British Business Bank, also said: “Since its launch in 2017, NPIF’s impact on businesses has been wide-ranging, providing funding to launch new products, employ new staff, enter new markets and acquire new facilities. We are pleased that NPIF is continuing to unlock the North’s growth potential by supporting small growing businesses with vital investment.”

Walkers Commercial Solicitors advised the company on the investment while CMS advised Mercia.