This post is by Natasha Lomas from Fundings & Exits – TechCrunch
The creator economy loves merch which is great news for on-demand custom printing startups such as Latvia-based Printify — today it’s announcing a $45 million Series A round, led by Index Ventures, off the back of rising demand for its services.
The mission: To keep growing its global marketplace of print shops to meet rising demand for custom wares, shipped.
Also participating in the funding round: H&M Group, Virgin Group, plus the founders of Transferwise, Vinted, Squarespace, RedHat, and entertainment industry investors including Will Smith’s Dreamers VC and NBA player Kristaps Porzingis.
TechCrunch understands Printify’s post-money valuation is just over $300M.
Ecommerce and creator-focused platforms like Patreon and Shopify — which cater to micro-brand creating individual sellers (be they designers, content creators, ecommerce entrepreneurs or other highly online hustlers) — are helping to fire up demand for custom products like t-shirts, mugs, stickers etc, expanding the market for on-demand printing and shipping.
Printify says it’s now connecting some two million merchants with print providers all over the world — and shipping a million units per month.
It’s also grown to employ close to 500 people — doubling its headcount over the past year, now with a plan to add a further 200 positions by the end of the year.
“Our main audiences are creators, entrepreneurs; most of our merchants are people who want to build a side-business and earn money in addition to their main income, however, we also see a high growth of creators and entrepreneurs who use Printify (Read more...)