Bristol software firm raises £1m to develop growth plans
A Bristol-based software company has announced new funding of £1million as it plans to more than triple its revenue over the next three years.
BaseKit has helped over 10 million small businesses build websites since its inception in 2008 and has established relationships with global hosting and telecom providers such as Fasthosts and Telefonica.
The company has now closed its first funding round since 2014 as part of growth plans, which include the development of its new platform.
BaseKit, which employs 30 people primarily based at its headquarters near Castle Park in Bristol city centre, said its Go Connect product will help streamline the online trading process for e-commerce businesses.
The company also appointed technical director Ryan Jones to oversee sales and marketing. The company said it aims to increase its revenue from £2.6m in 2021 to over £10m by 2025.
BaseKit chief executive and co-founder Simon Best said the increase marked a “new chapter” for the company.
Mr. Best said: “We have a well-established customer base including leading global hosting and telecommunications companies. We have the proven technology and the team in place to work with the most demanding global brands.
“We are now looking to build on our success in these channels by introducing a new product that will appeal to a wider audience and capture growing trends.
“The online transaction needs of new small businesses have shifted from ‘one day’ to ‘day one’. These companies are looking for solutions tailored to what they know, like social media and messaging, to give them a simple yet compelling customer workflow. »
Mr Jones added that the company was “well placed” to help small business owners take advantage of the continued shift towards online retail.
He said: “We will be looking to build new relationships with partners who can sell directly to small and micro businesses in Europe, North America, Asia and Africa. These can be banks, telecommunications companies, IT resellers, or organizations involved in setting up businesses.
“Our mission is to give micro businesses all the tools they need to succeed quickly and we’ve done everything we can to make our new services as easy and user-friendly as possible, both to operate and to resell. “
BaseKit has raised its latest round of funding from existing board investors including Nauta Capital, Angel Cofund, tech entrepreneur Juan Lobato, Thomas Vollrath and a number of smaller individual investors.
Do you like this story? Why not sign up to receive the latest South West business news straight to your inbox.