Pricing management company BlackCurve has closed a £500,000 Seed investment from Merica Fund Managers.
Software entrepreneur and investor Nick Kingsbury also took part in the funding.
Founded in 2016, the company uses pricing algorithms and machine learning technology to helps retail, e-commerce, manufacturing and distribution businesses with getting the best price for their products. BlackCurve’s technology uses data and multi-channel pricing to help find and adapt to the best prices for products on the client’s platform.
The platform, which makes over 250,000 pricing suggestions a day, is used by clients including Ribble Cycles, Cleverboxes and Appliance House.
Equity from the round will be used to expand its sales, software development and data science teams. Proceeds will also go towards developing the software and scaling its client-base through strategic integrations.
Mercia investment associate Chris Kilroy said, “Managing and optimising pricing is fundamentally important for organisations across a range of industries, from retail and distribution through to gaming and media.
“We believe that BlackCurve has strong growth potential across a number of markets and we’re looking forward to supporting the team as they continue to capitalise on the opportunities available to them moving forward.”
Earlier in the month, hospitality revenue management company Duetto closed an $80m Series D round led by Warburg Pincus. The company helps hotels to independently mange the prices of rooms to ensure that revenue can be maximised.
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