The Sydney-based retail tech company, Fusion Factory, has announced it will be expanding its global operations, following a $4 million capital raise from a leading investment company, Investec.
Fusion Factory is a data integration and omnichannel E-Commerce solution company, established by Co-Founders, Frank Nesci and Greg Woollett in 2008.
Fusion Factory currently sits with more than 130 clients, including Seed Heritage, RM Wiliams, Tarocash and Bonds, as well as many more. It was also the company behind the award-winning Comestri platform, which has experienced ‘strong growth’ over the past few years.
Moreover, Fusion factory recently received a $4 million capital raise, coordinated through the leading investment company, Investec. This investment is the third for Investec’s ‘Emerging Companies fund’, which focuses and provides Aussie and New Zealand businesses with strong potential for high growth.
“It’s an exciting time for Fusion Factory and Comestri. The whole team has worked hard over the past ten years to do what we do best – helping our clients achieve single-platform commerce success. We will now use the proceeds of this capital raise to expand operations locally and into Europe, the UK, the US and Asia,” explained Frank Nesci, the Co-Founder of Fusion Factory.
Experts estimate that the underpinning success of Comestri suggest that it will be used by 81 per cent of all retailers globally by 2020. Unified commerce is the name of the processes and systems ‘connecting product catalogues, inventory and customer data online’, both online and in-store.
“Fusion Factory and its Comestri platform are a sound investment choice for Investec,” explained Investec’s Emerging Companies Fund Co-Manager, Hein Vogel. “They’re a decade-long ‘overnight’ success which has built a strong client base and reputation in Australia’s retail industry. This opportunity will now open doors globally – we’re confident of further international growth for this promising Australian tech company, particularly in the UK where Investec has a very strong presence.”
The award-winning platform, Comestri, is a commerce hub that helps deliver unified commerce to merchants. They can now manage and ‘enrich’ multiple sources of product information, which they can then use across independent sales channels such as Magento, Salesforce and Shopify. The platform can also be used for platforms such as THE ICONIC, eBay and Catch, as well as across social media.
“Our Comestri SaaS platform is a market leader for retailers who are looking to deliver unified commerce to their customers,” explained Mr Nesci. “We’re now planning to develop strategic relationships with global channel and technology partners, fast track the platform’s development, and explore technology acquisitions.”
Like this story? Sign-up for the free Pulse Weekly Newsletter for more essential online retail content.