Frog Capital leads second round of financing in Britian's eCommera
Frog Capital, the growth capital investor in cleantech and ICT companies, announced September 21 that is leading a £5 million (€5.53 million euro) second round financing in eCommera, a UK-based provider of e-commerce services to the retail industry. Existing shareholder, West Coast Capital, supported the round.
Founded in 2007 by Michael Ross, founder of fashion retailer Figleaves.com and ex-BT marketing director, Andrew McGregor, eCommera currently helps over 20 large retailers, including Asda and House of Fraser, to analyse and run online retail operations. The new funding will be used to expand the company’s services and geographical reach.
eCommera’s CoreTrader service is an analytical dashboard that helps retailers to understand the drivers of profit and growth in the highly competitive world of online commerce. The company’s CoreCommerce Platform is an e-commerce trading platform delivered over the Internet, to enable retailers to act on this information and build profitable online operations. Alongside the core technology platforms, eCommera provides associated online retail consulting services.
This is Frog Capital’s first investment in the ICT sector following the arrival last year of Managing Partner, Mike Reid, from 3i’s Growth Capital team. The firm said in a statement that its investment its strategy to support companies that offer service or product to businesses seeking to harness the cost and time efficiencies of web-based marketing.