BlackCurve, a London-based e-commerce platform that enables online retailers to make smarter pricing decisions, announced that it has secured £750K in new funding from London-based VC Nauta Capital (backed Climedo) and ACF Investors.
The latest round brings the total fund raised to £3.7 million.
The UK startup will use the funds to expand its core online markets and drive 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,” adds Huthwaite
Helping SMEs compete against big players
In 2017, Philip Huthwaite established BlackCurve, which offers decision intelligence services to assist small retailers in assessing and enhancing their product pricing choices.
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 Amazon.
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.”
