RevLifter has received a major boost on our mission to make every eCommerce deal intelligent by completing a £3 million ($3.96 million) funding round.
The latest investment arrives courtesy of an equal commitment between the European Regional Development Fund – a progressive initiative managed by existing investors Maven Capital Partners – and Gresham House Ventures.
Here’s how we’re planning on using the funds to spearhead retailers’ adoption of personalized offers and content.
Our new office in Newcastle
If you follow our Linkedin page, you might have noticed that RevLifter has onboarded several new staff members over the past few months.
Many of these are based in the North East, specifically at RevLifter’s new office at The Catalyst in Newcastle, which is also home to the National Innovation Centre for Data.
Adding a second UK office marks an incredibly exciting chapter in our history. On the behalf of the team, we’d like to extend our thanks to The Catalyst and the city of Newcastle for the warm welcome.
The new funds will enable us to continue to expand at RevLifter’s existing headquarters in London while creating several new digital jobs in the North East.
Michael Vassallo, Investment Director at Maven, comments: “Maven manages a diverse range of funds and can use a combination of these, alongside working with other investors, to structure a flexible financial package that is tailored to the financial objectives of the business.
“This comprehensive offering is enabling RevLifter to tap into the digital talent pool in the North East of England and build an infrastructure which will allow it to scale.”
A boost for RevLifter in the US
The last year has been a milestone in many respects. One of the main highlights has been the continued growth of RevLifter in the US – a market with arguably the biggest appetite for personalized offers.
To put things into perspective, Boston Consulting Group estimates that redirecting 25% of US mass promotional spending to personalized offers would increase ROI by 200%, leading to a growth opportunity of more than $70 billion per year.
Our strong performance in the US was a driving factor in RevLifter reporting a 125% increase in revenue last year, and we can’t wait to implement a series of additional actions to boost our momentum.
Touching on our international growth story, Thomas Makey, Investment Director at Gresham House Ventures, comments: “Since our initial investment in RevLifter in 2020, the business has gone from strength to strength and we are excited to make this additional investment to support the next phase of its regional and international growth.
“RevLifter’s management team is well-placed to bolster the business’ position in the rapidly evolving e-commerce sector and we look forward to continuing our successful partnership over the coming years.”
A landmark year for product development
While we’re saving some big announcements for later in the year, we are able to confirm that part of the funds will support the development of several new solutions, features, and offer types.
The latest step on our journey will see RevLifter breaking into a host of new channels while helping brands determine precisely when they need to serve a deal to meet their goals and what that deal looks like.
Ryan Kliszat, RevLifter‘s Co-Founder and CPO, adds: “Our focus will be on products that use AI, real-time segmentation, and transactional data to make offer personalization even more targeted, not only reacting to customers but now predicting how they will behave using machine learning.
“In order to make a better experience for the consumer, we aim to make RevLifter a more native part of the online journey and embed it deeper in the eCommerce technology stack, subsequently giving retailers even more tools to run campaigns and measure the real-time incremental uplift themselves.”
A final thanks to Maven and Gresham House Ventures as well as our amazing brands and network partners for their continued support. To catch the latest announcements from RevLifter HQ, follow us on Linkedin.