BlackCurve, London SaaS that uses AI to help retailers achieve business goals secures £1M funding

BlackCurve Image credits: BlackCurve

London SaaS startup BlackCurve is a Pricing Optimisation Platform, which offers flexibility of a rules-based engine with the power of Artificial Intelligence. The platform also helps retailers manage and optimise the price of each item they sell to achieve their business goals.

Closed £1M funding round

BlackCurve just announced that it closed a £1M funding round led by its Chairman Martin Fincham along with participation from Nauta Capital, The Cambridge Angels Network and other prominent Angels, members of the ScaleUp Group and contribution from the UK Government’s Future Fund initiative. This round takes the total investment raised by the company till date to £3M.

Martin Fincham said: “We are on a mission to help online retailers find the hidden pockets of profit in their inventory. When a certain e-commerce giant is rumoured to tweak their prices millions of times per day, the issue becomes how can the rest of us possibly keep-up without employing a similarly sized army of data scientists and processing petabytes of data? This additional funding will help to accelerate the application of our A.I-powered solution to solve this conundrum for the rest of us – ordinary retailers.”

Philip Huthwaite, BlackCurve Founder, said: “Last year saw a huge acceleration of online retail. It is no longer possible to manually set prices and stay ahead. BlackCurve is supporting faster growth for forward-thinking e-commerce companies.”

BlackCurve intends to use the investment to expand its core team across sales, software development and data science, develop its software and scale its client base further through strategic platform integrations including BigCommerce, Magento and Shopify.

Optimises cost of over 1 million products

Founded in 2016 by Charles Huthwaite and Philip Huthwaite, BlackCurve’s pricing optimisation platform helps retailers manage and optimise the price of every item they sell to achieve their business goals. This SaaS platform uses AI to ingest data sources ranging from sales history and web shop transactions, through to competitor pricing and stock levels, thereby enabling every retailer to create and enforce smart pricing rules for their business.

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.

As of now, the pricing platform of BlackCurve optimises the prices of over 1 million products and executes over 15 million price changes per month. This lets retailers achieve profit margin growth and save both their time and resources.