Funding will accelerate European expansion and support research and development
FARMINGTON HILLS, Mich., May 15, 2014 – Beringea, LLC, a private equity firm providing growth capital to market-leading businesses, has announced that its London office, Beringea, LLP, has made a $2 million investment in Peerius, the largest provider of personalization software in the UK and Europe.
Peerius’ suite of SMART products allows each retail client to treat every visitor to its website as an individual using complex algorithmic software. This provides a custom-tailored experience for the website visitor and increased sales for the client. Clients include leading retailers French Connection, Ted Baker, Tommy Hilfiger and Topshop.
Established in 2007 by Roger Brown, Peerius has grown to be the market leader in the UK and Europe in personalization solutions for multi-channel and pure-play retailers. This injection of funds will allow Peerius to continue to invest in, and refine, its software, and to continue its European expansion. Peerius already has a significant presence in Germany, which has the largest online retail market in Europe, and is well placed to expand from its base in Berlin.
Roger Brown, CEO of Peerius said: “We were particularly impressed by the Growth Finance team at Beringea LLP because their significant experience meant they were decisive, understood our needs, offered good business suggestions and were able to work quickly to provide the funds. Their business acumen and agility mirrored our sector knowledge and our need to work quickly in this competitive sector.”
Mark Taylor, of Beringea LLP, said: “Peerius is an impressive company, with an inspiring management team, who have made significant progress in an exciting market. This growth finance, which was concluded in just eight weeks from agreeing terms to advancing funds, will give them more flexibility to maximize their opportunities for growth.”
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Peerius is the market leader in personalization software. Through its SMART suite of personalization tools, Peerius personalizes each customer’s online experience, one-to-one and in real time, at every stage of the customer journey. Each individual customer sees product suggestions, messages, promotions, images and campaigns that are personally relevant to them. The result is a proven model for increased sales and a better richer experience for customers. Trusted by leading brands to deliver the results they need, Peerius partners with companies such as Charles Tyrwhitt, French Connection, Appliances Online, notonthehighstreet.com, Ted Baker, Topshop, Superdrug, Red Letter Days and Thomas Cook. For more information visit www.peerius.com.
Beringea, LLC provides equity and/or subordinated debt to small- and-middle market companies. Founded in 1988, the Firm is headquartered in Farmington Hills, Michigan. Beringea, LLC’s office in London, UK operates as Beringea LLP. Beringea invests in portfolio companies operating in a range of sectors, including health care, clean technology, advanced manufacturing, media, Internet technologies and specialized consumer products. With flexible capital solutions, extensive investing experience and offices in the U.S. and UK, Beringea’s team offers its portfolio companies the resources to grow their businesses and create value for shareholders. For more information, visit www.beringea.com.
In the United States of America, Beringea operates as an SEC-registered investment advisor, Beringea, LLC. In the United Kingdom, this document is issued by Beringea LLP, a firm authorized and regulated by the Financial Conduct Authority. Beringea LLP is a limited liability partnership registered in England and Wales with company number OC342919, and its registered office is at 39 Earlham Street, London, WC2H 9LT, UK. This document is intended solely to provide information regarding Beringea’s potential financing capabilities for prospective portfolio companies.