BlackCurve - the pricing optimisation software company which is backed by Mercia - has secured a further £1.5m funding round to accelerate its development.
The investment, which is led by Nauta Capital and includes follow-on funding from existing investors including Mercia, will allow the company to double the size of its team and strengthen its product offering.
Founded in 2016, BlackCurve’s pricing optimisation platform helps retailers manage and optimise the price of every item they sell. The platform, powered by artificial intelligence, ingests data sources ranging from sales history and website page performance to competitor pricing and stock levels, enabling them to create smart pricing rules for their specific business.
BlackCurve serves mid to large multichannel retailers across industries such as sporting equipment, DIY, kitchen and home goods, consumer electronics, pet supplies, stationery, automotive parts, toys and games, and beauty and healthcare.
Currently the platform optimises the prices of over 1 million products and executes over 15 million price changes per month, allowing retailers to grow profit margins and save time and resources. Mercia has invested in the business from its EIS funds under management.
Chris Kilroy, Investment Manager at Mercia, 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.”
Philip Huthwaite, founder and CEO of BlackCurve, said: “We’re delighted to announce that Nauta has invested into BlackCurve. 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.”