BlackCurve, a London, UK-based SaaS pricing optimization platform for retailers to make smarter pricing decisions, raises £1.5M in funding.
The round was led by Nauta Capital with participation from Mercia Fund Managers. In conjunction with the funding, Carles Ferrer, Nauta Capital’s London-based General Partner will be joining BlackCurve’s board.
The company intends to use the funds to accelerate its commercial development, doubling its team, and strengthening its product offering.
Founded in 2016 by Philip Huthwaite, CEO, BlackCurve provides a pricing optimization platform for retailers to manage and optimize the price of every item they sell to achieve their business goals. The system, 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.
The pricing platform currently optimizes the prices of over 1 million products and executes over 15 million price changes per month.
The company 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.