E-commerce pricing startup BlackCurve has secured £750,000 in new funding from investors including Nauta Capital and ACF Investors, bringing its total raised to £3.7 million.
Founded in 2017, BlackCurve’s technology enables retailers to evaluate and optimise their product pricing decisions.
They can tap its platform to set rules that automatically change prices in reaction to competitor behaviour, similar to the systems used by the likes of Amazon.
🚨 Pricing is the ultimate profit lever that you’re not using well enough.🚨
Our customers see 12% increase in revenue on average…
Learn more, and get started, at https://t.co/zYvJ9Hypeb#pricing #ecommerce #pricingoptimization pic.twitter.com/dCwFFvK7kg
— BlackCurve (@blackcurveHQ) June 23, 2021
Having recently launched on the Shopify app store, BlackCurve will use the new funds to expand in its core online markets, as well as driving down its cost of sale.
Philip Huthwaite, BlackCurve Founder, says: “In a world where retailers are competing against Amazon and their army of data scientists, we are effectively bringing Amazon style pricing capabilities to the small and medium-sized market.”
“We support retailers through the whole pricing journey, from businesses that are just starting out to more experienced e-commerce brands.
He adds: “Retail is still about instinct and human decisions. Our technology does the hard maths, so a human can make the ultimate assessment on price, rather than a black box.”
“The new funding will help us expand in our core online markets and double down on our product led approach.”
Paul Fauset, ACF Investors Partner, says: “BlackCurve offers a solution for online retailers looking for a competitive advantage in an increasingly competitive marketplace.”
“The technology is equally valid for e-commerce brands at the beginning of their journey as it is for more experienced players. We are delighted to invest in BlackCurve and excited to see Philip steer the business to continued success.”
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