Ecommerce technology provider continues rapid global expansion following adoption of the AmplienceOne Big Content platform in the U.S., The Netherlands and Germany
Amplience today announced the successful closing of a $10.5 million Series B round of funding . Led by Octopus Investments, funding has come from existing stakeholders and investors including Northstar Ventures and Silicon Valley Bank, to support the company’s continued growth in the North American and Northern European regions.
Since opening its first U.S. office in 2013, Amplience has enjoyed significant expansion across the region, a complement to the company’s growth in Northern European markets. This development is supported largely by a stream of strong customer wins, expansion of existing accounts, and the development of its AmplienceOne Big Content Platform. The new funding comes on the heels of the company’s significant growth over the past year, which saw over fifty new customer wins. The company has helped some of the world’s most recognizable online retailers, such as Wehkamp, Saks Fifth Avenue, Shop Direct Group, Tesco and Marks and Spencer, use rich and dynamic content to connect with their channels and customers. The company also grew its employee count by 60 percent in 2014 to support a doubling in Annual Recurring Revenues (ARR).
In addition to supporting Amplience’s plans for further global expansion, the investment will also fund continued enhancements of the AmplienceOne Big Content Platform, the most recent of which was the Social and User Generated Content (UGC) solution. This new solution will be used by ecommerce leaders, such as Shop Direct, Dune, Labelux and L.K. Bennett, to curate social and user generated content from Instagram and other channels. Retailers can tag products within this social content and deliver it throughout the customer journey to drive conversions.
Customer wins like Saks Fifth Avenue have allowed Amplience to secure this funding
“Amplience’s goal is to make it easier for retailers to connect with their customers across all the channels through which today’s consumers interact with a brand,” said James Brooke, Amplience’s CEO. “This investment provides us with with the capital to continue the development of our Big Content platform, which gives retailers all the tools required to achieve this goal, and to accelerate our expansion in the North American market and beyond.”
“With today’s consumers expecting nothing less than a perfectly seamless experience across all retail channels, Amplience is perfectly placed to enable retailers to cater to this customer demand,” said Jo Oliver, a member of the Ventures team at Octopus. “Here at Octopus, we are dedicated to supporting businesses that have an exceptional ability to transform an industry. We are excited to provide Amplience with financing that will help the company further develop its North American footprint as they continue to shape the ecommerce technology marketplace.”
Commenting on the financing, Andrew Hunter, Director at Silicon Valley Bank said: “It has been impressive to witness the traction Amplience has gained since our first commitment to the business over a year ago. In particular, Amplience has secured key North American clients and further investment in their platform, which have positioned the business well for future success. We are delighted to further support the Amplience team during this important phase of their growth plans.”
Michelle Cooper, Investment Manager at Northstar Ventures, added: “The management team at Amplience is doing exceptionally well, and we continue to be impressed with the significant progress it is making. Northstar Ventures is very pleased by the exciting and rapid growth of the team in the North East, and they have built some great relationships with some of the region’s Universities, including Teesside. I look forward to working with Amplience to help them expand even further as the business grows internationally.”
About Octopus Investments
Octopus is a venture capital investor who backs talented people with the potential to build big businesses. Our focus is on identifying entrepreneurs and fast growth companies that can scale explosively to create, transform or dominate an industry. The Ventures team has a proven track record of helping build exceptional global businesses, including Zoopla Property Group, Secret Escapes, SwiftKey, graze.com and YPlan.
The Ventures team is part of Octopus Investments, one of the UK’s leading investment management companies specialising in smaller company investing, with more than £5 billion of funds under management.
About Silicon Valley Bank UK
For more than 30 years, Silicon Valley Bank (SVB) has helped innovative businesses and their investors move bold ideas forward, fast. SVB provides a range of targeted financial services and expertise through its office in the UK. With commercial and international banking services, SVB helps address the unique needs of innovators. Forbes named SVB one of America’s best banks (2015) and of America’s best managed companies (2014). In 2014, SVB was recognised as Service Provider of the Year for the third year in a row and the Investor Allstar Awards in London.
For further information about SVB’s services, please visit www.svb.com/uk
Jennifer Thompson at Silicon Valley Bank
020 7367 8111
About Northstar Ventures
Northstar Ventures, founded in 2004, is a venture capital firm based in the North East of England with over £95m under management. We invest in innovative, high growth businesses and social enterprises across the region.
We are dedicated to providing entrepreneurs with the support they need to fulfil their ambitions and to achieve social impact through our investments.
For further information about Northstar Ventures, please visit www.northstarventures.co.uk
Sophie Atkinson, Marketing & PR Executive
0191 229 2776
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