Maven leads £5.3m investment in eCommerce platform e.fundamentals
We are pleased to announce that Maven has led a £5.3 million funding round of e.fundamentals, a leading eCommerce insights platform.
Its analytical software enables clients, primarily in the FMCG sector, to constantly track the wholesale and retail performance of its products, providing actionable data from which decision makers can make critical changes to the marketing mix on aspects such as product and price. Data is provided in real time via its intuitive user dashboards, enabling sales and marketing teams to react quickly to changing customer trends, identify growth opportunities, create more effective online sales strategies, and ultimately increase profit.
Our funding will support the expansion of the business, rolling out its services in more key global eCommerce regions. This will include a launch in the US with a version of the platform tailored to the needs of the American market.
London and Edinburgh-based e.fundamentals has already built up an impressive blue-chip client base, including Weetabix, McCain and Twinings.
The move to online retail for FMCG products continues to grow and brand owners are investing increasingly in applications which provide deeper strategic insights into how their products are performing in relation to the competition. The e-commerce analytics market is now estimated to be worth $500 million globally and growing at 10% per annum.
e.fundamentals was founded in 2014 by John Maltman, an experienced global brand professional who previously held senior roles in P&G, PepsiCo and Asda Walmart. The senior management team also includes former Skyscanner director Greg Urquhart as Chief Technology Officer.
Gareth Price, Investment director at Maven Capital Partners said:
“e.fundamentals has developed a sophisticated, yet highly intuitive, insights platform which is already playing an important part in developing and influencing the ecommerce sales and marketing strategies of many high-profile, blue-chip customers. The business is addressing a large and growing market, and its software has proven to deliver its clients a return on investment of at least 4x within one year. Maven will work with the senior management team to help them achieve their ambitious growth plans, supporting the company with its continued expansion into the US and Europe.”
John Maltman, Chief executive at e.fundamentals added:
“We’re delighted to have secured the support of Maven Capital Partners. The investment gives us the financial resources to expand our business internationally. I’m particularly excited about the huge bank of experience and resources our institutional investors bring to the business.”
Gareth Price and Melanie Goward led the deal at Maven.