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Expansion

Pimberly sets sights on $10 million ARR target

Manchester-based Pimberly has moved into to scale mode, investing to accelerate growth and achieve an ARR target of $10 million.

The innovative SaaS-based Product Information Manager (PIM) platform passed its $1 million annual recurring revenue (ARR) target earlier in 2019.

Pimberly’s PIM platform acts as a central hub for all omnichannel product data, including descriptions, specifications, sizing, pricing, availability, imagery and videos for multiple brands, currencies and geographies.

Its automation “No-Code” UI streamlines ERP/eComm workflows. This, it says, helps retailers, distributors and manufacturers to seamlessly expand into new marketplaces and territories, as well as rapidly increasing time to market and the agility of their products and services.

The company has secured contracts with UK brands including, JD Sports, Freeman Grattan, Regatta and Card Factory, as well as international clients such as Brightstar in the US, Mconomy in the Netherlands and WhiteAway in Denmark.

Pimberly’s growth follows investment from NorthEdge Capital and the UK Government. This has enabled the company to double its headcount to 40 over the last 12 months.

The team is now in the process of expanding its headquarters, taking two floors within St James’s Tower in central Manchester and investing in more staff for product development, go to market and customer success.

Martin Balaam, CEO of Pimberly, said: “As new Enterprise B2B SaaS companies will know, getting your first paying clients is a huge milestone, enabling you to focus on getting to the nirvana of the $1m ARR target – I’m thrilled that Pimberly has been so well received by businesses. To surpass this target and focus on scaling to $10m ARR so quickly is just awesome”. 

“It’s also a real indication that companies are increasingly focussing on their eComm/online strategies to fuel growth and can see the value that automated and effective product information management can have on their operational efficiency, their customer service and their bottom lines. This is a hugely exciting time for tech in the North West and we’re delighted to be a part of its success.”

1,500 jobs to be created by ASOS over the next three years…

The online fashion retailer ASOS has confirmed it will introduce 1,500 new positions at its Camden headquarters over the next three years, adding to its current workforce of 2,500.

The company is expected to spend an estimated £38 million on hiring experienced professionals in the marketing, technology, editorial content and retail buying fields as it aims to double its sales over the next five years; in addition to investing a further £40 million on developing a 40,000 sq ft space to accommodate the extra employees.

Read more from The Telegraph here