A RAPIDLY expanding software business which helps online retailers claw back lost sales is aiming to double the size of its workforce in the next nine months.

SaleCycle is the market leading “cart recovery provider”.

Its technology helps online shops find out why customers abandon their purchases and allows its clients to contact shoppers to encourage them to complete the purchase.

Since it went live in September 2010, the Houghton-le-Spring company has helped clients recover £23m in lost transactions.

The business is currently enjoying massive growth, with 30 new clients in March and monthly sales of around £500,000. It forecasts turnover will jump from £750,000 last year to £2.5m in March next year.

By then, it also aims to increase staff numbers from the current 26 to between 50 and 56 people. SaleCycle founder and president Dominic Edmunds said: “In essence, we will double capacity in every section of the business.

“We are still a relatively young business and we work with a number of retailers like Monsoon, Sony, Boohoo and Marks & Spencer France. Thirty-plus clients went live last month and we now have 250.

“We have something exciting, it’s a compelling sell in this climate. We are selling revenue, we are recovering sales.”