Now that’s fulfilment as company secures £11m Lloyds investment
An e-commerce fulfilment business that has grown exponentially since being founded by two Cambridge graduates has clinched £11 million in private equity investment.
James and James Fulfilment, which has since moved its UK headquarters to the Northampton area, secured the backing from mid-market private equity investor LDC, part of Lloyds Banking Group, to further enhance its market-leading, software-enabled e-fulfilment proposition.
In the last three years the company’s revenue has grown by 50 per cent per annum to £17.4m and it now employs more than 100 people worldwide.
LDC is partnering with the firm’s management team – led by founder and CEO James Hyde, COO Neil Sant and CFO Simon Lisser – to invest in a larger UK fulfilment centre, continue to develop the technology proposition and expand client service and commercial functions.
Hyde said: “We created the business to challenge the industry and create technology-led solutions that are fit for today’s rapidly-evolving online retail market.
“The logistics industry has generally been behind in its adoption of technology, but the demand for more modern systems is greater than ever.
“Over the last few years, we’ve been on a strong growth trajectory and are investing more than ever in our in-house fulfilment platform. With LDC’s experience in the tech space and confidence in our business plan, they will be a great partner to help us deliver even more value to even more brands and retailers.”
James and James provides online order fulfilment to e-retailers, storing products, packing and shipping orders, and handling any returns. This enables clients to increase order volumes, enhance customer experience, and improve stock and inventory management.
The business supports its clients from its operating bases in the UK, US and New Zealand.
Through its award-winning cloud-based software technology platform, ControlPort, James and James’s clients can fulfil orders from multiple channels and countries in one place and also provide live order tracking.
The idea for the business was hatched in 2010 when Hyde and Strachan couldn’t find the right order fulfilment service for an eCommerce business they worked for. Faced with messy warehouses running on out-dated systems, they decided to build their own service proposition.
In 2016 it moved its HQ and UK fulfilment centre from Cambridge to Northampton, on the Brackmills Industrial Estate, to exploit better links to national communications hubs and international airports.