BlackCurve, the platform that enables online retailers to make smarter pricing decisions, has secured £750,000 in new funding from investors including Nauta Capital and ACF Investors, bringing its total raised to £3.7 million.
In a highly competitive online market, BlackCurve’s technology provides decision intelligence for retailers to help them evaluate and optimise their product pricing decisions. The BlackCurve platform enables customers to set rules that automatically change prices in reaction to competitor behaviour, similar to the advanced pricing systems used by the likes of Amazon.
Founded in London in 2017 by Philip Huthwaite, BlackCurve provides small and medium-sized e-commerce businesses with an edge that allows them to compete with much bigger rivals. The business automates the process of mapping customers’ inventories to competitor product listings, enabling BlackCurve users to make intelligent decisions on pricing in order to improve digital marketing performance and boost sales.
With a global customer base drawn from industries including electrical goods, fashion and shipping, retailers working with BlackCurve are able to improve their pricing strategy, leading to a demonstrable uplift in sales and profits.
Having recently launched on the Shopify app store, BlackCurve will use the new funds to expand in its core online markets, as well as further driving down its cost of sale.
Philip Huthwaite, BlackCurve Founder, said: “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.
“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, said: “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.”