15gifts secures growth backing from FPE Capital

28 February 2023 Consultancy.uk 2 min. read

Software business 15gifts has received its first institutional funding, as it looks to accelerate its growth. The firm was advised on its sale to FPE Capital by professionals from Grant Thornton.

15gifts provides software combining consumer behavioural psychology with machine learning to humanise the online sales journey and model real-time, data rich customer profiles. Since being established in 2010, the Brighton-based firm has quickly grown to over 60 employees, producing more than 2,000,000 customer buying recommendations per month – and now serves the majority of UK telecom mobile network operators as well as large providers in the US and Europe. 

As 15gifts looks to build on this momentum, it has sought investment for a new campaign of growth. To that end, it has secured a landmark backing fromprivate equity firm FPE Capital – a group which invests in profitable UK headquartered companies with revenues of £5 million to £50 million.

15gifts secures growth backing from FPE Capital

The investment is 15gifts’ first institutional funding, and will facilitate the firm’s ambitious growth plans. This includes global expansion within the telco industry, entering new verticals and launching Profiles – a new product that uses zero-party data to model unique traits that enhance personalisation and retargeting capabilities.

Tom Cox, Founder and CEO of 15gifts, commented, “FPE’s track record of supporting software businesses of our size accelerate into their next stage of growth makes them a very attractive partner to be our first institutional investor. We have been able to quickly form a strong working relationship with FPE that has already helped shaped our growth plans, which we’re eager to start executing.”

Grant Thornton's South East corporate finance team advised shareholders of 15gifts on the sale to FPE – the latest chapter in a long-standing relationship between 15gifts and Grant Thornton. The firms have worked together since 2018, with Grant Thornton M&A Director, Adam Bunch, stating his team has “known the team at 15gifts for a number of years and having kept a close eye on their growth so far.”

Fellow M&A Director, Andrew Frame, added, “It is not only a success for Tom and the outstanding team at 15gifts, but also for the whole of the region. Brighton is fast becoming a hub of emerging tech companies, with huge potential, helping to put the city and the wider region in the focus of investors. We are excited for what the future may hold as we look forward to a strong pipeline of activity in 2023.”