PRESS RELEASE: Foresight leads round to support growth of Fresh Relevance
Foresight Group (Foresight), a listed infrastructure and private equity investment manager, has made a further investment into Fresh Relevance, following on a record quarter of growth for the company, to accelerate product roadmap roll out and support scaling.
Some members of the management team have participated in the funding round, demonstrating strong support for the business and its growth.
Based in London, Fresh Relevance is a SaaS-based personalisation and decision engine for online businesses and was co-founded in 2013 by Mike Austin, Pete Austin and Eddy Swindell. Fresh Relevance’s versatile platform analyses transactional data in real-time and optimises the customer experience across email, website, mobile & app, and social media. With over forty technology partners and off-the-shelf integrations, Fresh Relevance helps marketers and eCommerce professionals automate their customers’ journey, improve conversion, increase customer loyalty, and drive online sales.
Fresh Relevance currently supports over 350 customers, including major brands across the UK, Nordics and US. Core features include triggered emails, product recommendations, social proof, behavioural and geo-targeting, popovers, dynamic content, testing, reporting and data analysis.
Fresh Relevance’s clients making full use of the platform on average see an additional GBP255k for every GBP1 million turnover, an additional 25 per cent increase in online sales.
Mike Austin, CEO of Fresh Relevance, says: “This past year has accelerated the shift to eCommerce by five years and created significant growth opportunities for online businesses as a result. With the further investment from Foresight, we will expedite our expansion into Europe and the US. We will also accelerate product development in three key areas - ease of use, understanding the shopper and influencing their journey - to enable digital marketers and eCommerce professionals to increase customer engagement and revenue. We are pleased Foresight has continued to support us on our path to becoming the leader in eCommerce personalisation.”
Georges Berzgal, Chair of Fresh Relevance, says: “Foresight’s investment is a testament to the acceleration of eCommerce adoption we’ve seen in the past couple of years. It is also a strong endorsement of our strategy and the incredible progress that the Fresh Relevance team has made in offering clients a unique and intelligent, but low-code platform that enables personalised customer journeys across a multitude of channels. This follow-on investment will enable us to scale the business faster and to a broader set of segments, not just in the UK but also abroad.”
Lindsay Duebendorfer, Investment Manager at Foresight, adds: “Fresh Relevance has achieved impressive growth, has nearly doubled its customer lifetime value since initial investment, and has continued to innovate. We remain excited about the team, the market position and are looking forward to continuing the journey.”