US-based Printful Inc., a print on-demand and fulfilment company has received a US$ 130 million investment from private equity firm Bregal Sagemount, giving the digital print business a valuation of more than US$ 1 billion.
The company’s revenue climbed nearly 80% last year, as demand rose for printed goods ordered online.
Printful’s CEO Davis Siksnans comments: “We are experiencing major growth in the e-commerce industry, which is why we have to keep expanding our operations globally. We are honoured to be recognised among the best start-up employers in America, however, now more than ever, we need to keep in mind the importance of maintaining our company culture and take care of our employees.”
Founded in 2013 in Latvia, Printful offers print-on-demand items using customer-supplied designs, from T-shirts to home décor and promotional gear for businesses. The company integrates with online marketplaces like Etsy Inc., Squarespace Inc. and Shopify Inc., the CEO said.
Printful, whose headquarters is in Charlotte, N.C., has seen meaningful growth over the past few years. In 2019, the company notched US$ 116 million in revenue, Siksnans said. Over the course of 2020, the company’s revenue rose by almost 80% to more than US$ 200 million, he added.
Recently, it has opened fulfilment centres in Brazil, Texas and California as well as buying 50+ Kornit digital print systems, as it continues its stellar growth trajectory, a reflection of the huge growth in the e-commerce market for digital textile printing.