The North East Development Capital Fund (NEDCF), supported by the European Regional Development Fund and managed by Maven Capital Partners (Maven), and Gresham House Ventures (GHV), has completed a GBP3 million funding round for RevLifter, an AI-powered technology platform that enables brands to achieve their eCommerce goals through personalised deals and content.
The transaction is split evenly between NEDCF and GHV.
In 2020 the Maven VCTs and GHV co-led a GBP3.3 million Series A funding round for RevLifter to support the rapid expansion of the business as it capitalised on several new growth opportunities driven by changing consumer behaviours as a result of the Covid-19 pandemic. Since then, the company has performed strongly, increasing revenues by 125 per cent last year and winning a number of new high-profile clients, including AO.com and Boohoo. The company now processes more than 185 million online baskets every month through its platform.
