Ecommerce marketing and packaging innovator, Penny Black, attracts further investment of £1.3m
Further investment for marketing innovator follows the award-winning launch of hyper-personalised packaging experiences
London, UK, 25 October 2022: Penny Black, the ecommerce platform turning packaging into a new marketing channel, has received an additional £1.3m in seed funding from AGFA, and VC investor, ninepointfive.
Incubated in AGFA’s renowned innovation lab, supported by ninepointfive, Penny Black launched independently in the UK and Europe in April 2022. Its software seamlessly connects ecommerce stores, marketing tools and fulfilment operations to deliver personalised experiences at the moment customers open their ecommerce packages.
The result of Penny Black’s approach sees an average ROI of 300 per cent, with brands gaining £2.00 in additional revenue per recipient – 22x more than SMS and 11x more than post-purchase emails. But it’s not only revenue that the marketing platform’s approach has proven to improve, with personalised packaging also shown to boost customer loyalty, retention, customer lifetime value and conversion rates.
This latest funding follows Penny Black’s award-winning success, which has seen the company quickly become a trusted partner to ambitious consumer brands, including luxury jewellery and watch retailer, PAUL VALENTINE, tea mixology company, Bird & Blend and the online contemporary nursery décor store, the Modern Nursery. Further, with its expert leadership team, Penny Black has worked with leaders in the space, from global ecommerce fulfilment providers, like Radial and Cloud Fulfillment, as well as marketing automation innovators, Klaviyo.
Creating tactile, meaningful moments
Pieter Van de Velde, Founding Partner from ninepointfive, which has invested £650k in this latest round said:
Jorge Tomas, VP of Strategy and Corporate Development from AGFA, which also invested a further £650k added:
As Stefanie Donat, Head of Supply Chain and Logistics at PAUL VALENTINE commented:
Jordan Bourchier-Lee, Strategic Partnerships Manager at Klaviyo, added:
Reflecting on the company’s early success, Douglas Franklin, CEO, Penny Black said:
Penny Black is the only marketing channel with a 100% open rate that allows brands to use the unboxing moment to retain customers, increase CLTV and build loyalty. The marketing platform and print tech help ecommerce marketers to create hyper-personalised campaigns and flyers that can be added to customers’ orders during the pick-and-pack process.
Penny Black was shortlisted in the 2022 UK Ecommerce Awards and won the 2020 BeCommerce Special Jury Award.