London-based Integration Platform-as-a-Service (iPaaS) firm Patchworks has secured an additional £2 million in funding from Gresham House Ventures and senior shareholders.
This strategic investment follows on from a £4 million raise in March 2023 from GHV. It brings the total raise to over £10 million since GHV’s initial backing in August 2021. The fresh funds will be used towards scaling Patchworks’ go-to-market activities and product innovation.
Founded in 2014, Patchworks is a cloud-based integration platform for B2B and B2C e-commerce businesses that connects core business applications including e-commerce systems, storefronts, marketplaces, warehouse software, ERPs and CRMs. Patchworks claims its solution enables retailers to simplify their technology stack integrations, automating data flow and eliminating the need for manual data entry.
“In 2023 we transformed the company into a pure software business and launched the world’s most modern iPaaS platform,” says Jim Herbert, CEO of Patchworks.
“We’ve experienced financial success, and strategic transitions, and now, with this additional investment, we are well-positioned for accelerated growth in the coming year.”
In addition to the funding, the company has appointed Dave Wileman as vice president of sales and partnerships. Patchworks describes Wileman as an “industry veteran with a successful track record”. He joins from Shopify, where he served as head of sales for Northern Europe, with previous experience including a nine-year-long stint at Global Payments.