Virgin Group announces investment in custom printing platform Printify
Virgin Group has announced an investment in Printify, one of the leading print-on-demand marketplaces, connecting sellers of customised merchandise with print providers worldwide.
Founded in 2015, Printify integrates with leading e-commerce platforms, including Shopify and Etsy, to offer merchants the widest catalogue of customisable print products. The platform enables seamless order fulfilment that dispatches production orders directly to its print provider marketplace across 90 locations and manages delivery to end-customers directly. Having doubled in size within the past year, Printify has expanded its distributed team to almost 500.
Printify has raised a total of $45 million in its Series A funding round, with Virgin Group joining Index Ventures and H&M alongside new capital from existing investors. This latest funding round puts Printify’s valuation at $300 million.
As one of the leading global print-on-demand platforms, Printify caters to the fast-growing Creator Economy. It gives entrepreneurs from different creative fields the freedom to create their own unique products without big upfront costs in manufacturing or shipping. Printify has seen a rapid expansion in the past few years in the USA, which is its primary market.
Richard Branson, Founder of the Virgin Group, said: “Entrepreneurial spirit runs through the Virgin Group, which is why I’m proud to support Printify. Both Printify’s vision and success story to date embed this special entrepreneurial spirit, which in turn has created a rapidly growing and robust e-commerce platform. Printify’s unique proposition helps people market their brands through customisable products, with no upfront investment. We’re excited to support its growth in the coming years.”
Printify founder and CEO James Berdigans said: “Our mission is to build an ever-evolving platform that lets anyone start an e-commerce business with as little investment and risk as possible. Printify is designed to move the world towards on-demand production while helping to make it more sustainable.
“Last year brought significant changes to everyone in the industry, Printify included, but it was also an opportunity to define the culture we hope to build. We are planning to continue our rapid growth by expanding in new markets and sectors, however, our main priority is the team that we expect to grow considerably by the end of the year and double in 2022. There are currently more than 70 open positions in Product, Engineering, Marketing, Design, Sales and other departments and all of them are remote-friendly meaning that we aim to build an even stronger team of the most talented and ambitious specialists from across Europe.”
Visit Printify to find out more.