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Tech

Bristol-based tech business Brightpearl wins award after financial turnaround

Brightpearl works with retail giants including Amazon and e-Bay.

Bristol-based tech firm Brightpearl.(Image: Brightpearl)

A Bristol-based tech firm has won a prestigious business award in recognition of its turnaround in fortunes, which has seen it more than double its revenue over the past four years.

Brightpearl, based in New Bond House on Bond Street, specialises in retail operations solutions for brands including Lovepop, Shopify and Big Green Egg and counts retail giants Amazon, e-Bay and Walmart among its partners.

The software company, which also has a base in Austin, Texas, was awarded the Best Business Turnaround prize at the Management Today Business Awards at a virtual ceremony held last week.

The award is given to a business that has improved its financial position by implementing effective operations, establishing solid management and generating positive cash flow.

Since 2017, during which time Derek O’Carroll became Brightpearl’s chief executive, the firm's annual recurring revenue has risen to £12.3m and its average deal size has increased by over 500%.

Over 1,000 retail businesses across 26 countries now use Brighpearl’s services to help its operations across order management, fulfilment, and warehouse management.

The last quarter of 2020 saw the number of online firms joining its platform grow by 75% and at the end of last year the company attracted a minority investment of around £17million from Newcastle-based software giant Sage.

Management Today judges commented on the “impressive turnaround” Brightpearl has experienced and praised the company for its strong leadership.