Change Ventures participates in the $45M Series A investment round to Printify
Photo: Printify team
Printify, a leading print on demand company has secured $45M in Series A funding led by Index Ventures, with participation from Change Ventures, H&M Group, Virgin Group, founders of leading technology companies Wise, Vinted, Squarespace, RedHat, and entertainment industry investors such as Will Smith’s Dreamers VC.
Printify will use this investment to further expand its marketplace globally. As a thriving ecommerce platform, Printify fuels the fast-growing creator economy by enabling anyone to start a business and create their own unique products. With Printify every item is produced only after the sale and drop-shipped directly to the end consumer, meaning there is no upfront investment and the least possible risk. The Printify catalog offers the largest selection of customizable products. It connects merchants with print production partners in more than 100 locations across the world, with the widest coverage in the US, its primary market. In the last year, Printify has seen accelerated growth, now serving more than 2 million registered merchants.
Headquartered in Latvia, the company is building a strong team to meet this demand. Today Printify employs close to 500 people from all over the world, with employee headcount more than doubling over the last year and plans to continue expanding.
“Our mission is to build an ever-evolving platform that lets anyone start an ecommerce business with as little investment and risk as possible. Our vision is to transform ecommerce from mass manufacturing to on-demand production, eliminating excess stock and reducing environmental waste,” said James Berdigans, founder and CEO of Printify. “Last year brought significant changes to the industry, as customers increasingly chose to shop online, while more and more merchants were looking for opportunities to earn additional income. We’re proud to serve the growing demand from creators and entrepreneurs and plan to continue our rapid growth by expanding into new markets and investing in a team of the most talented and ambitious people from across Europe.”
Andris K. Berzins, the Managing Partner of Change Ventures highlights also the additional impact that Printify is bringing to the Baltic ecosystem: „James and Printify are also leaders in the local ecosystem showing what “pay it forward” means for building a flourishing startup community. They were an active participant in the successful effort to adopt the world's most attractive stock option regulations in Latvia, according to Index Ventures Rewarding Talent report, and are involved in bringing great speakers to the region through their Printify Tech Talks meetups and their continuing efforts to make it easier to help talented individuals immigrate to work at Latvian startups.“
- Read about the investment on Change Ventures’ blog post - click HERE
- Printifys’ blog post on the investment - click HERE
Photos: Printify; https://unsplash.com/@wolfgang_hasselmann