Reactive pricing platform BlackCurve gets funding injection
Pricing website BlackCurve has secured an additional £750,000 in new funding, bringing its total raised to £3.7 million.
Having recently launched on the Shopify app store, BlackCurve said it will use the new funds to “expand in its core online markets, as well as further driving down its cost of sale”.
Its technology “provides decision intelligence for retailers” to help evaluate and optimise product pricing decisions, and to “set rules that automatically change prices in reaction to competitor behaviour”, similar to the advanced pricing systems used by Amazon.
BlackCurve said it 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”.
Its global customer base includes fashion firms and it said retailers working with it “are able to improve their pricing strategy, leading to a demonstrable uplift in sales and profits”.
Founder Philip Huthwaite, said it’s “bringing Amazon-style pricing capabilities to the small- and medium-sized market” and supporting retailers from start-ups to more established firms.
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