Wavecrest and Beringea lead $29m round for Edited

Hermes GPE also participated in the round. The LP makes direct investments through its growth strategy.

Wavecrest is currently investing from its debut fund, which closed on $190m in March 2019.

GP Bullhound's Alexis Scorer, who acted as a corporate finance adviser to the company, said: “As the business has a growing US presence, the founders were keen to find a US partner.

"We spoke to a few US investors, but we felt Wavecrest was a strong partner for the team, with a strong group of advisers."

Wavecrest operating partner Steven Collins will join the company's board.

Following the investment, the company intends to grow in the US and expand its product line. The company has a strong presence in the retail sector and has recently launched a Covid-19 dashboard for its clients.

Scorer said: "The platform provides insights that are needed more than ever by big retailers and brands. It provides real-time data on how brands and retailers are reacting in terms of discounts, whether new categories are being introduced and what categories are doing well.

"There wasn't much impact on the process from the coronavirus. We started at the end of last year so were in advanced stages when stricter measures were introduced. There was no impact on terms either, but for other investors looking into deals now, they are looking closely at pricing and downside protection.”

He said: "Good companies will continue to attract funding, particularly those with robust business models."

Previous funding
In 2010, Seedcamp provided an undisclosed sum of seed capital to the company.

In 2011, Index Ventures led a $1.6m seed funding round along with Atlas Venture, High Line Venture Partners and private investors Alex Zubillaga, Sylvie Gabriel and Joanne Wilson.

In 2014, Index Ventures and Frog Capital led a $4.4m funding round.

Company
Founded in London in 2009, Edited is a retail decision platform that includes real-time data analytics software to be used by brands and retailers to optimise their buying and merchandising decisions. It currently employs 74 people.

People
Wavecrest Growth Partners – Deepak Sindwani (managing partner).
Beringea UK – Karen McCormick (chief investment officer).
Edited – Geoff Watts (CEO).

Advisers
Company – GP Bullhound, Alexis Scorer, Joe Tabberer (corporate finance); Taylor Wessing (legal).

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• Topics
• Expansion
• UK / Ireland
• Technology
• United Kingdom
• Taylor Wessing
• Hermes GPE
• Beringea Limited