Personalised packaging startup ‘rides high on e-commerce’ with £1.5m investment

Penny Black, a London based tech ‘pioneer’ using marketing techniques to make e-commerce packages more rewarding and personalised, has received an additional £1.5m in seed funding from AGFA, an imaging technology company, and VC investor ninepointfive.

Both investment funds were triggered by the numerous partnerships and wins across the UK and Europe, with the business having shown steady month-on-month growth and attracted a number of new customers.

These include 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 ‘easy-to-use’ marketing technology to help differentiate themselves from competitors.

Penny Black CEO, Douglas Franklin, commented: “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.

“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.”

Penny Black’s marketing SaaS tool for e-commerce brands is already being deployed across Europe by global fulfilment providers like Radial, Elanders, I-Fulfilment and Schroeders.

Douglas continued: “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.”

Recent trials of Penny Black’s solution showed that retailers saw a measurable uplift in online sales after running personalisation campaigns.

The toothbrush retailer, SURI, used Penny Black inserts to drive customer referrals and saw referral share rates up to 30 per cent, driving more customers to discover the brand for the first time. Other brands managed to equate up to an additional £2.20 in revenue per insert sent.

Reflecting on the company’s swift ascent, Douglas added: “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.”

By Matthew Neville – Senior Correspondent, Bdaily

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