E Fundamentals, the London and Edinburgh-based eCommerce analytics and insight business, has announced it has completed a £2.5m Series A round of financing.
Downing-managed VCTs and Downing Ventures EIS led the investment round with participation from existing E Fundamentals shareholders.
The investment brings E Fundamentals total funding since launch to £5m and will help the company aggressively develop its roadmap of market-leading platforms and tools which help major brand clients like Nestle, General Mills, Kerry Foods and Birds Eye grow their sales and profits in online supermarkets.
The Series A finance builds on an exceptional year for E Fundamentals which saw a rapidly growing roster of clients, key executive appointments and market momentum in the white-hot area of eCommerce performance management. International assignments in Australia, France, Germany, Spain and Italy have created market demand from major brand owners who see eCommerce via all platforms including mobile, social and voice as their no1 critical growth driver.
Downing Investment Director Richard Lewis said: "We are delighted to work with such a committed, professional and focussed management team and are excited to support E Fundamentals as they continue to tackle this real problem facing FMCG brand-owners. We believe the company is perfectly poised to help brands adapt and succeed in the growing and crucial e-commerce sector."
E Fundamentals CEO John Maltman said: "Every brand owner in the world has their growth plans pinned on eCommerce. We are committed to helping our clients get a tremendous Return on Intelligence by helping them drive their share of online business faster than bricks and mortar sales. All brand owners need deep insights to get the fundamentals of eCommerce right and this Series A round allows us to further perfect our service and quickly expand into new product areas and international territories. We're delighted to be part of the Downing family; their long-term commitment to growing businesses made them the stand-out investor partner."