Personalised e-commerce packaging technology startup Penny Black secures £1.5 million investment
Penny Black, a UK tech startup using marketing techniques to make drab e-commerce packages more rewarding and personalised, has received an additional £1.5 million in seed funding from AGFA and ninepointfive.
This builds on an initial investment of £1.3 million in October 2022, bringing the total raised to date to £2.8 million.
Both investment funds were triggered by partnerships and wins across the UK and Europe, including sustainable toothbrush retailer SURI, gin brand Warner’s Distillery and health supplements retailer Zooki.
Retailers and third-party logistics centres (3PLs) have been attracted to the technology to help differentiate themselves from competitors.
“The moment consumers open their order will be an opportunity for brands to entice and retain consumers, helping them drive more revenue from existing customers,” says Penny Black CEO, Douglas Franklin.
“Our software seamlessly connects e-commerce stores, marketing tools, warehouse management systems and fulfilment centres, making sure brands can bring in customer data and create hyper-personalised experiences and printed material that delights customers the moment they open purchases.”
“3PL companies currently struggle to personalise e-commerce packages and can’t do much beyond mass printed, one design, gift notes thrown inside. Our unique offering helps automate a revenue-boosting process for on-demand, beautifully-designed printouts, specifically geared towards each customer, location, product or package,” Franklin comments.
“Penny Black’s personalised inserts increased the size of our loyal customer base by six times; and once customers are in the community, their lifetime value (of sales) automatically rises,” says Krisi Smith, Co-Founder at British tea retailer Bird & Blend Tea Co.
“We can invite loyal repeat buyers to join the club, interact with fellow customers and take them on a physical journey of education and delight.”
“Penny Black has solved the problem of creating a personalised unpacking experience for consumers in the world of e-commerce,” says Kevin Rogers, MD at Elanders UK.
“The technology allows us to produce highly personalised campaigns, printed on-demand in our distribution centres, with engaging communications that elevate the consumer experience. This adds value to the service we provide to brands and delivers a solution that few other 3PLs can rival.”
Franklin adds: “The moment consumers receive their online orders is the only touchpoint left for e-commerce brands to have a physical connection with them. Brands need to surprise and delight customers to secure their loyalty, especially when acquiring new ones can be so expensive.”
“Riding the wave of global growth in e-commerce, we’re delighted to be attracting more interest. And this latest boost in investment will help us develop even further.”
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