Foresight has invested £2.15m from Foresight VCT PLC into Fresh Relevance Limited ("FRL”), a leading marketing technology platform for eCommerce businesses.
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Fresh Relevance is a SaaS email marketing and web personalisation platform providing online retailers with personalised customer experiences and real-time marketing tools across desktop and mobile. Key features of the platform include triggered emails, web personalisation and real-time behavioural marketing, all of which aim to replicate the personalised experience familiar across market leading eCommerce businesses.
Based in Southampton, Fresh Relevance was founded by Mike Austin, Pete Austin and Eddy Swindell, ex-employees of former Foresight private equity portfolio company SmartFocus. In line with the rapid growth of the $2 trillion e-commerce sector, marketing technology is evolving at a similar rate as retailers try to engage with consumers in an increasingly competitive online market.
Foresight’s Private Equity Team have continued to be very active after completing twelve investments in 2016, investing in five SMEs during the first quarter of 2017.
Rodney Appiah, Senior Investment Manager, Foresight Group, commented: "We are delighted to be working with Mike and the rest of the team to support Fresh Relevance’s growth plans. Their innovative and flexible marketing platform is addressing the demand for greater personalisation online and is already relied upon by hundreds of leading retailers.”
Mike Austin, Founder, Fresh Relevance Limited, commented: "To date we have achieved major growth, with more than 300 customers now relying on the Fresh Relevance marketing hub. The significant investment from Foresight Group enables us to accelerate our expansion across North America, explore market opportunities in new territories and further extend our in-house development capabilities."
"Foresight Group is the ideal partner for Fresh Relevance, as they fully understand our business and its potential and share our ambition about how we get there together."
For more information contact:
Annabel Arrowsmith, Foresight Group, firstname.lastname@example.org +44 (0)20 3667 8179
NOTES FOR EDITORS
About Foresight Group LLP ("Foresight”):
Foresight is a leading independent infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 30 years.
Foresight has £2.3 billion of Assets Under Management across a number of funds, including Listed Vehicles, Limited Partnerships, Enterprise Investment Schemes (EISs) and Venture Capital Trusts (VCTs).
Foresight’s Private Equity team, comprising sixteen investment professionals, invests between £1m and £5m in management buy-outs, management buy-ins and growth capital investments in UK SMEs.
Foresight was voted "VCT House of the Year” at the 2016 Unquote British Private Equity awards.
The Foresight Regional Investment Fund, targeting companies in the North West of England, North Wales and South Yorkshire supported by Foresight’s new Manchester office deployed one third of funds within its first 12 months and has a strong pipeline of investment opportunities under consideration.
The Foresight Nottingham Fund has now made investments into twelve companies and is over 50% deployed, with portfolio company TheIdleMan.com announcing a further investment from Channel 4 in the form of an innovative media for equity deal.