- Printful — an industry-leading print-on-demand drop shipping and fulfillment company — announced it raised a $130 million non-control investment from Bregal Sagemount. These are the details.
Printful — an industry-leading print-on-demand drop shipping and fulfillment company — announced it raised a $130 million non-control investment from Bregal Sagemount, a leading growth equity firm. The funding establishes Printful as the first privately owned company with Latvian roots to achieve unicorn status with a valuation of above $1 billion. This new partnership will support the launch of additional products and services and the expansion into new channels and geographies.
Printful experienced explosive growth with its revenue increasing by almost 80% and exceeding $200 million in 2020. And since its launch in 2013, the company has sold over 32 million customized products to customers all over the world. Printful is going to integrate with the most popular e-commerce platforms and marketplaces, including Shopify, Etsy, WooCommerce, Wix, and Squarespace.
KEY QUOTES:
“Thanks to our hardworking team, we have made significant accomplishments during our 8 years of operation. We have grown from a start-up to a global industry leader led by a new generation of Latvian entrepreneurs. This investment confirms the strength of Printful’s position and also shows that we operate in an industry where there is significant growth potential. We look forward to partnering with Bregal Sagemount as we continue our journey.”
“This has been a transformative year for the creator community. The record sales we saw on our platform demonstrates the power of independent brands and designers. This partnership will allow us to continue our global expansion and help our customers better monetize their work.”
— Davis Siksnans, CEO and Co-founder of Printful
“We are excited to support Printful in this important step of its growth story. This will be one of the largest investments in our company’s nine-year history. At Bregal Sagemount, we pride ourselves on backing market leaders in disruptive sectors. It has been phenomenal to see what the Printful team has achieved over the last few years.”
— Adam Fuller, a Partner and Co-founder of Bregal Sagemount
“Having helped build the increasingly important category of print-on-demand from the ground up, Printful is providing much-needed value to ecommerce merchants and creators. We look forward to partnering with Printful as it continues to innovate and expand the ways it supports its creator community.”
— Sandeep Swaminathan, an Operating Partner at Bregal Sagemount
