Retail iPaas specialist Patchworks bags £5 million in funding as it eyes North American growth

Patchworks has closed a £5 million funding round led by Gresham House Ventures, its main investor, with growth lending from Palatine Growth Credit.

Bringing the total funding to date to £16.3 million, this will be invested in expanding sales and marketing to reach more enterprise retailers and brands, driving growth in the North American market, building on early traction in the region, and investing in product development, including new AI features.

The company helps retailers integrate systems across e-commerce, ERP, PoS, PIM, CRM, CDP and fulfilment, with the aim of avoiding common issues like overselling, delayed orders, and inefficient manual data entry.

Jim Herbert, CEO at Patchworks, pictured below, says: “This follow on investment is a huge vote of confidence in our platform and our strategy. Retailers and brands need flexible, future-proof infrastructure to stay competitive, and Patchworks gives them the power and speed they need.”

“We’re doubling down on the US market, scaling our partner ecosystem, and continuing to enhance the platform with AI and other innovations so our customers can connect, adapt and grow faster.”

Caroline Tulloch, Investment Director at Gresham House Ventures, says: “Patchworks has gone from strength to strength since our first investment in 2021. The business has invested smartly in its product and platform, building strong fundamentals and a clear path to scale. This additional investment will help accelerate that growth, particularly in North America, and we are excited to continue supporting Jim and the team.”

William Chappel, Managing Partner at Palatine Growth Credit, says: “Patchworks sits at the heart of the modern commerce ecosystem, helping retailers unlock efficiencies and innovation. We are delighted to back its expansion strategy and support the business as it captures more market share in the fast growing iPaaS segment.”

2025 RTIH INNOVATION AWARDS

AI will be a key focus area at the 2025 RTIH Innovation Awards.

The awards. which are now closed for entries with our finalists and shortlists being announced last week, celebrate global tech innovation in a fast moving omnichannel world.

Our 2024 hall of fame entrants were revealed during an event which took place at RIBA’s 66 Portland Place HQ in Central London on 21st November, and consisted of a drinks reception, three course meal, and awards ceremony presided over by comedian Lucy Porter

In his welcome speech, Scott Thompson, Founder and Editor, RTIH, said: “The event is now into its sixth year and what a journey it has been. The awards started life as an online only affair during the Covid outbreak, before launching as a small scale in real life event and growing year on year to the point where we’re now selling out this fine, historic venue.”

He added: “Congratulations to all of our finalists. Many submissions did not make it through to the final stage, and getting to this point is no mean feat. Checkout-free stores, automated supply chains, immersive experiences, on-demand delivery, next generation loyalty offerings, inclusive retail, green technology. We’ve got all the cool stuff covered this evening.”

“But just importantly we’ve got lots of great examples of companies taking innovative tech and making it usable in everyday operations - resulting in more efficiency and profitability in all areas.”

Congratulations to our 2024 winners, and a big thank you to our sponsors, judging panel, the legend that is Lucy Porter, and all those who attended November's gathering. 

For further information on the 2025 RTIH Innovation Awards, please fill in the below form and we will get back to you asap.