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Fast-growing e-commerce agency Space 48 appoints new chair after PE investment

Digital data science veteran, Martin Boddy, has been appointed as chair of Manchester based eCommerce specialist Space 48.

The appointment follows the investment made by leading listed infrastructure and private equity investment manager Foresight Group in January. The investment from Foresight and Foresight’s involvement will support Managing Director, Jon Woodall, in taking the business through its next stage of growth; further building on Space 48’s success and current market-leading position. Initial growth plans include expanding sales development, partnerships, exploring international opportunities and making a number of strategic hires across the UK.

Space 48 is a fast-growing digital eCommerce agency with an expansive consulting offering. It offers clients a full range of eCommerce consulting services with a focus on designing solutions to improve end-customer experiences and drive online sales. This includes eCommerce design, engineering, re-platforming, platform improvements, growth marketing and eCommerce consultancy.

Space 48 is known for its high-quality work as demonstrated by organic revenue growth of over 25% in the past two years, and its expansive customer portfolio. It was the BigCommerce EMEA partner of the year in 2020 and also specialises in Magento and Shopify platforms.

Boddy founded the listed data, creative and performance marketing agency Jaywing plc stepping down as Executive Chairman in January 2020 to pursue a career as an independent board adviser. He is also Chairman of the RegTech business Money Alive.

Commenting on the appointment, Matthew Pomroy, Investment Director at Foresight, said: “We are pleased to welcome Martin to the Space 48 team. His prior experience will be crucial in helping Jon and his team in the next stage of growth. We are always looking to support management of the companies within our portfolio with additional hires.”

Jon Woodall, Space 48 Managing Director, added: “I’m delighted to have someone of Martin’s calibre and profile involved in the business. He brings not only commercial, marketing and M&A expertise and experience, but is also an innovator in the use of data in digital commerce.”

Commenting on his appointment, Martin Boddy, commented: “I’m excited to be joining Space 48 to help to accelerate its growth in the UK and beyond at a time when the adoption of digital commerce is at an all-time high. With a strong culture that has thrived in a remote first working environment and a team of incredibly talented engineers and consultants helping ambitious online retailers thrive, the business is well placed and well regarded.”

The eCommerce agency market represented c.£1.5 billion sales in the UK in 2019 and is projected to continue to grow by 7% annually through 2024. As retailers increasingly focus on driving online sales channels and improving customer experiences by investing in eCommerce technologies and infrastructure, an agency like Space 48 is well positioned to help ambitious online retailers thrive.