23rd December 2022
Investment is the fourth investment from FPE Fund III - the firm’s third software and services focused fund
FPE Capital LLP (‘FPE’), the software and services focused lower mid-market growth investor, announces that it has led the first institutional investment into 15gifts, a leading provider of Customer Experience Management SaaS. This marks the fourth investment from FPE Fund III, the successful final close of which was announced in May this year at a raised hard cap of £185m.
The investment from FPE will back the founder Tom Cox and current management team, enabling them to accelerate the international expansion and product development of 15gifts.
15gifts has grown rapidly in recent years and now serves almost 100% of UK telco mobile network operators as well as large mobile operators in the US and Europe. Its software combines consumer behavioural psychology with machine learning to humanise online sales journeys and model real-time, data rich customer profiles. Headquartered in Brighton, UK, the company has grown to over 60 employees and produces more than 2,000,000 customer buying recommendations per month.
The business is run by an experienced management team, led by Tom Cox as CEO and FPE’s investment will facilitate the team’s ambitious growth plans. FPE has a successful track record in backing SaaS businesses which have a strong focus on developing market leading, quality products as well as client focused cultures.
Llewellyn John, Partner at FPE
Tom has built an impressive business that operates in a large and growing market, creating demonstrable ROI for its clients. There is strong chemistry between us, Tom and his team, so we are looking forward to supporting them achieve their exciting growth ambitions
Tom Cox, founder and CEO at 15gifts
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
The FPE investment was led by Llewellyn John, Chris Kay, Claire Sweet and Sam Greenberg. FPE was advised on the transaction by Squire Patton Boggs (Legal), Altman Solon (Commercial), Intechnica (IT Diligence), Evelyn Partners (Financial and Tax) and Continuum (Management Diligence).
The shareholders of 15gifts and the Company were advised by Grant Thornton (Lead Advisory), Howard Kennedy (Legal).