BlackCurve, a pricing optimisation company, has announced the closing of a £1.5m funding round, led by Pan-European VC Nauta Capital.
Founded in 2016, BlackCurve’s pricing optimisation platform helps retailers manage and optimise the price of every item they sell to achieve their business goals. The platform, powered by Artificial Intelligence, ingests data sources ranging from sales history and website page performance, right through to competitor pricing and stock levels, enabling every retailer to create smart pricing rules for their specific business.
BlackCurve serves mid to large multichannel retailers across industries such as sporting equipment, DIY, garden & outdoor, kitchen & home goods, consumer electronics & photography, pet supplies, stationery, automotive parts, toys & games, beauty & healthcare.
Currently, BlackCurve’s pricing platform optimises the prices of over 1m products and executes over 15m price changes per month. This allows retailers to achieve profit margin growth and save both time and resources.
Philip Huthwaite, founder and CEO of BlackCurve said, “We’re delighted to announce that Nauta has invested into BlackCurve. Their track record speaks for itself, and their advice and support to date has been excellent.
“We look forward to partnering together on this exciting chapter of our journey. With our existing investor, Mercia, following on too, it is a further proof point of the potential for us to shake up the price optimisation software market and help more retailers optimise their prices.”
Leading the investment, Carles Ferrer, Nauta Capital’s London-based General Partner will be joining BlackCurve’s board and will support the company’s growth plans.
Ferrer said, “For Nauta, being able to partner with BlackCurve and their highly knowledgeable founding team was an opportunity we could not pass.
“While exploring different pricing strategies is a key concept in most businesses, the process in which this is achieved has largely remained manual and inefficient, hardly keeping up with the changing pace of technology, but BlackCurve’s innovative solution changes this.
“There is also a great synergy between our existing portfolio and BlackCurve, and we look forward to working with Philip and the rest of the team in scaling BlackCurve globally.”
The round is supported by Mercia Fund Managers, a United Kingdom based technology investment firm.
Chris Kilroy, investment manager at Mercia Fund Managers said, “BlackCurve has continued to make excellent progress since we led the company’s seed round in February 2018.
“Philip and Charles have done a fantastic job assembling a world-class team in 2018 and we’re looking forward to working with and supporting the company alongside Nauta Capital throughout 2019 and beyond.”