Manchester software firm secures £2m Northern Powerhouse funding
Manchester-based software company Pimberly has secured a £2million investment from NPIF - Mercia Equity Finance, which is part of the Northern Powerhouse Investment Fund.
The announcement follows 16 months of rapid growth for Pimberly, which provides a Product Information Management platform that helps retailers, distributors and manufacturers to increase sales through accurate and engaging product information.
The Series A growth capital will allow the business, which has clients including Moonpig and Ellis Brigham, to focus on product development, customer success and new business development.
Martin Balaam, CEO of Pimberly, said: “We’re absolutely delighted to have attracted such prestigious investment. Reaching this Series A funding milestone so quickly is an achievement for every member of the team and underlines the exciting potential of Pimberly.
“I am also proud to be showing that the North of England not only has a heap of great talent, but crucially has the funding available to help its businesses scale and grow.
“We created Pimberly because, as ecommerce continues to grow, so too does the need for companies to enrich their product information, handle an increased volume of data in multiple formats, and present it all to the consumer in a way that improves the overall shopping experience and encourages them to buy.
“Securing this investment gives us the impetus we need to scale up the business in line with our customers’ needs.”
Dr Graham Davies, Investment Director at Mercia Fund Managers, added: “Pimberly is a great example of the innovation and leadership that is fuelling the Northern Powerhouse. Its innovative technology is already disrupting the market, and we look forward to seeing where this exciting Manchester business can go with this funding.”
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund.