We are delighted to announce that Volution portfolio company Brightpearl has been acquired by Sage, the leader in accounting, financial, HR and payroll technology for small and mid-sized businesses, for $360m.
Founded in 2007, Brightpearl boasts an unrivalled retail operating system which automates everything from order fulfilment and inventory allocation to shipping and accounting, enabling merchants to compete, save time and grow fearlessly.
Volution invested in Brightpearl in 2019, having seen the Retail Operating System specialist grow from strength to strength over a number of years. James Codling, Managing Partner of Volution said, “We were impressed by Brightpearl’s enviable product market fit, and by how well Derek O'Carroll and his team were executing against an ambitious plan to grow and scale the business. We believed in their vision to support the growth of online retail and wholesale by automating the back office. The team developed a highly effective, scalable solution for SMEs that addressed a significant gap in the market”.
Brightpearl’s success would not have been possible without the leadership of O’Carroll, who joined the company as CEO in 2016, spearheading a transformative growth plan. The business has rapidly expanded internationally in recent years, with most of its revenue now being generated in the US.
Derek O’Carroll, Chief Executive Officer of Brightpearl, commented, “We are thrilled to be joining Sage. Bringing our two teams together will combine the retail strength of Brightpearl and the scale, brand and financial expertise of Sage, enabling us to offer customers the most innovative financial and retail operating solutions so they can grow fearlessly, save time and deliver outstanding experiences.”
With this acquisition, Brightpearl’s technology will enable Sage to offer seamless API integration with e-commerce software platforms. We’re delighted to have been part of Brightpearl’s journey, alongside investors Cipio Partners, Verdane, Notion Capital and MMC Ventures.