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After revenue almost doubles in 2020, the new funding will help Printful continue to print on demand
Printful, the industry’s leading on-demand printed freight and fulfillment company, announced that Bregal Sagemount, a leading growth equity company, has made a $130 million non-controlling investment. This financing makes Printful the first private company to acquire Latvian descent and unicorn status with a valuation of more than $1 billion. The new partnership will support the release of other products and services and the expansion to new channels and regions.
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Printful gives merchants, artists and other creators the opportunity to run a successful e-commerce business without investing resources in production and logistics. The company is responsible for all matters related to printing, product storage and delivery, allowing customers to dedicate their time to the exciting part of the business-marketing and design development.
The company has experienced explosive growth, and its revenue has increased by nearly 80%, and will exceed $200 million by 2020. Since its establishment in 2013, Printful has sold more than 32 million customized products to customers worldwide. Printful integrates with the most popular e-commerce platforms and markets including Shopify, Etsy, WooCommerce, Wix and Squarespace. Printful’s global team consists of more than 1,800 employees, providing services in 8 internal organizations and 5 partner facilities around the world.
“Thanks to our diligent team, we have made significant achievements in the eight 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 status and strength of Printful It also shows that we are operating in an industry with huge growth potential. We look forward to working with Bregal Sagemount to continue our journey.” said Davis Siksnans, CEO and co-founder of Printful.
“This is a transformative year for the creator community,” Siksnans added. “The record sales we have seen on the platform are a testament to the power of independent brands and designers. This partnership will allow us to continue our global expansion and help our clients make better use of their work for profit.”
Adam said: “We are excited to support Printful in this important step in its growth story. This will be one of the largest investments in our company’s nine-year history. At Bregal Sagemount, we are a market leader in supporting disruptive industries. Proud.” Fuller, partner and co-founder of Bregal Sagemount. “It’s amazing to see what the Printful team has achieved in the past few years.”
Sandeep Swaminathan, Bregal Sagemount’s operating partner, continued: “Helping to establish an increasingly important category of on-demand printing from the beginning, Printful provides much-needed value for e-commerce merchants and creators.” “We look forward to working with Printful. Because it continues to innovate and expand the way it supports the creator community.”
Rothschild & Co acted as exclusive financial advisor to Printful. Latham & Watkins LLP acted as legal counsel to Printful. Goodwin Procter LLP served as legal counsel to Bregal Sagemount.
About Printful
Printful is an on-demand printing and fulfillment company that helps people turn their ideas into brands and products. The company fulfills and delivers customized clothing, accessories, and household and daily necessities for online businesses. Since its establishment in 2013, Printful has delivered more than 32 million items and set a revenue milestone of more than 200 million U.S. dollars in 2020. Printful has expanded into a team of more than 1,800 people, covering 8 fulfillment centers around the world.
About Bregar Sage Mountain
Bregal Sagemount is a growth-focused private capital company with US$4 billion in committed capital. The company provides flexible capital and strategic assistance to market-leading companies in high-growth areas in various transaction situations. Bregal Sagemount will invest 40 million to 400 million US dollars in each transaction to target areas, including software, digital infrastructure, healthcare IT/services, business and consumer services, and financial technology/professional finance.For more information, please visit www.sagemount.com.
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