UK private equity firm Livingbridge has invested in e-commerce platform provider Visualsoft.
Founded in 1998 by CEO Dean Benson, Visualsoft provides SMEs with e-commerce services, including initial site development and ongoing support, alongside digital marketing services.
Headquartered in Teesside, Visualsoft has offices in Newcastle, Manchester and Dubai.
The offering is delivered using a “shared success” model, which empowers retailers by removing upfront build costs and ensuring complete alignment between Visualsoft and its clients as they grow.
With over 280 staff led and a secure platform developed and supported by a team of over 100 technical specialists, Visualsoft services more than 1,000 customers and generated £18.5 million in revenue in 2020. “The Visualsoft platform is also on course to deliver a billion pounds of client revenue by the end of this year,” a statement said.
Visualsoft’s growth has been accelerated by the impact of Covid-19, as retailers have sought to optimise their e-commerce platforms and marketing capabilities to capture the shift to online spending.
Livingbridge’s Mark Advani said: “Visualsoft provides a functionally rich, high service e-commerce platform solution to its customers. It is ideally positioned to capitalise on the accelerated shift to online retail and the rise in independent retailers and progressive brands. We are excited by the prospect of working closely with Dean Benson and the management team to help Visualsoft serve more brands and retailers – both directly and through its expanding network of channel partners.”
Dean Benson, CEO at Visualsoft, said: “Over the past two decades Visualsoft’s world class technology and passion for innovation has consistently disrupted the e-commerce landscape. I am delighted to have partnered with Livingbridge and we will now work in collaboration to further accelerate growth and strengthen our position as an industry leader.”
The investment was made through Livingbridge’s Enterprise 3 fund.
PwC and Eversheds advised Livingbridge on the deal. The vendors were advised by KPMG and Endeavour Partnership and Deloitte.