1. Market Data
October 27, 2016

Brickwork raises $5m in Series A funding

Retail software platform Brickwork has announced a $5m Series A financing round led by Safeguard Scientifics.

Retail software platform Brickwork has announced a $5m Series A financing round led by Safeguard Scientifics.

The round had also seen participation from new investor Recruit Strategic Partners, along with existing investors Advancit Capital, Beanstalk Ventures, Cowboy Ventures and Forerunner Ventures.

Proceeds raised from the funding round will be used to expand sales and marketing, as well as strengthen the platform with enhanced data science and analytics.

“Brickwork recognises this tremendous market opportunity and has built a platform to increase conversion."

Brickwork founder and CEO David Munczinski said: “There has been a fundamental shift in consumer behaviour over the past five years, which retailers are just beginning to wake up to, that nearly every customer starts their buying experience in digital.

“Most retailers focus their websites and digital marketing strategies around getting a customer to their online checkout. However, they're ignoring the fact that the vast majority of customers are online or on mobile devices with the intent to purchase in-store.

“Brickwork recognises this tremendous market opportunity and has built a platform to increase conversion, improve personalisation, grow average order value, and in-turn, generate higher customer lifetime value.”

Set up in 2013, Brickwork is an omnichannel software solution to power a digital presence for physical retail stores, featuring online-to-in-store conversion funnels to influence decision-making and improve overall customer experience.

It offers advanced store locators and location pages, appointment, event and promotion management, a customisable content management system, and key data and analytics offerings. Its solutions have been adopted by leading global brands such as Urban Outfitters, J. Crew and Bonobos.