We are delighted to announce that 2018 is about to get a whole lot busier! We have just closed a £500,000 seed round, led by Mercia Fund Managers, alongside Nick Kingsbury, a software entrepreneur and investor.
The funds will be used to build out the core team, with a particular focus on sales, software development, and data science.
This will underpin software releases throughout the year, to deliver faster on-boarding, improved analytics, as well as opening up the platform to new customer bases through strategic platform integrations.
Founded in 2016 by a father and son team, BlackCurve helps ecommerce companies find the optimal price for their goods/services through advanced pricing algorithms and machine learning.
Many businesses still manage their pricing on Excel, and rely on traditional pricing techniques that do not maximise profit opportunities.
Put against a backdrop of increased competition in online retail, the Amazon effect, and Brexit – pricing has become more critical than ever to get right. For companies that do find their pricing sweet spot, the financial rewards are immense.
Chris Kilroy, Investment Associate at Mercia, said:
“Managing and optimising pricing is fundamentally important for organisations across a range of industries, from retail and distribution through to gaming and media.
We’re delighted to announce our seed investment into BlackCurve and we feel confident that both Philip and Charles have the skills and expertise to drive the company forward.
We believe that BlackCurve has strong growth potential across a number of markets and we’re looking forward to supporting the team as they continue to capitalise on the opportunities available to them moving forward.”
Philip Huthwaite, BlackCurve CEO and Founder, said of the seed investment:
“We’re bringing affordable and sophisticated price optimisation technology to businesses that form the bedrock of our economy, such as Ribble Cycles, Cleverboxes, and Appliance House. Our software delivers real tangible benefits for customers.
I’m proud to be able to do this with the support of my father and CTO, Charles Huthwaite. The last two years have shown what can be achieved through bootstrapping if you are surrounded by a fantastic team.
We look forward to welcoming the new recruits over the coming months, as well as delivering for our customers.”
Notable additional shout-outs include - The Accelerator Academy, who put us through our paces to help get the business off the ground, and Marriott Harrison, who supported us on the legal front as part of this investment.