Penny Black

Penny Black

Connecting brands and their customers at the moment of unboxing to create the personalised experiences that every customer wants.

HQ location
Antwerp, Belgium
Launch date
Employees
Enterprise value
$8—12m
Company register number
0765.809.258
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Acquisition
Total Funding000k

Financials

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Revenues, earnings & profits over time
USD20222023
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% growth-141 %
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Source: Dealroom estimates

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More about Penny Black
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Penny Black was founded in London, United Kingdom, in 2021 by CEO Douglas Franklin. Before establishing Penny Black, Franklin accumulated experience in strategy and operations at RSA and served as CEO at Digital Fineprint. The company was incubated in AGFA's innovation lab with support from venture capital investor ninepointfive before its independent launch in the UK and Europe in April 2022. The firm has secured approximately $3.36 million (£2.8 million) in seed funding over two rounds, with the initial round in October 2022 raising £1.3 million and a subsequent round in September 2023 bringing in an additional £1.5 million.

The company operates within the ecommerce marketing technology sector, targeting direct-to-consumer (D2C) brands and third-party logistics (3PL) providers. Its business model is centered on a Software-as-a-Service (SaaS) platform that enables clients to transform the unboxing experience into a personalized marketing channel. Revenue is generated by providing this technology to brands looking to enhance customer loyalty and increase lifetime value.

Penny Black's core service is a platform that integrates with ecommerce stores (such as Shopify), marketing automation tools (like Klaviyo), and warehouse management systems. This integration allows for the creation and on-demand printing of hyper-personalized inserts, flyers, and notes that are added to customer orders during the pick-and-pack process in fulfillment centers. The platform leverages customer data to tailor these printed materials based on specific attributes like location, product purchased, or past buying behavior. This transforms a standard touchpoint into a targeted communication channel, which the company states has a 100% open rate. Clients such as SURI, a sustainable toothbrush retailer, have reported referral share rates of up to 30% from using the inserts. Other brands have seen an additional £2.20 in revenue per insert sent.

Keywords: ecommerce marketing, personalized packaging, unboxing experience, customer retention, SaaS, direct-to-consumer, marketing automation, third-party logistics, customer loyalty, brand advocacy, fulfillment personalization, print technology, Shopify integration, Klaviyo integration, customer lifetime value, post-purchase marketing, D2C technology, packaging inserts, personalized flyers, revenue optimization

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