Index Ventures led the $45 million Series B round. This was in response to rising demand for Printify's services.
The mission: To continue growing its global network of print shops in order to meet increasing demand for custom wares, shipped.
H&M Group, Virgin Group, as well as the founders and investors of Transferwise and Squarespace, RedHat and entertainment industry investors such Will Smiths DreamersVC and Kristaps Porzingis, NBA player, are also part of the round.
TechCrunch believes Printify's post-money valuation is less than $300M.
Ecommerce and creator-focused platforms such as Shopify and Patreon, which target micro-brand-creating sellers (be they content creators or designers) are helping to increase demand for custom products, like mugs, stickers, and expand the market for shipping and on-demand printing.
Printify claims it now connects over 2 million merchants to print providers around the globe and ships a million units each month.
It has also seen its workforce grow to close to 500, with a plan for 200 more positions by the end.
Printify's main audience is creators and entrepreneurs. Most merchants want to start a side-business to make extra income. However, TechCrunch reports that we also see an increase in creators and entrepreneurs using Printify to help build their core business.
It is one of many custom printing startups that has positioned itself to take on the shipping and printing piece at scale. This often means building businesses over several years with a smaller base. Printful, Gelato and Zazzle are also in this space.
Printify's 2015 founder has fewer years than its competitors, but Printify claims that this has allowed it to be more concentrated on serving micro-brand builders merchants who are now causing such a boom for custom wares.
Printify offers the opportunity for anyone to make additional income. It says this when it is asked about its competitive mix.
These are the essential aspects that merchants seek, it says. Printify offers the most variety of printed products on demand for merchants and creators who want to sell online. Printify offers the lowest prices and high quality products.
Its marketplace sells the most popular products, including T-shirts and hoodies as well as stickers, mugs and posters.
It also adds that we see a growing market for baby and kids products, as well as sportswear and drinkware. Printify is preferred by most merchants due to its wide range and geographic flexibility. We have over 370+ products and are adding more each week. They can also be printed in 100+ locations around the globe.
Dino Becirovic (principal at Index Ventures) commented on the Series A funding in an announcement. Printify is the most popular marketplace for on-demand printing, with the best selection of products and print suppliers. Printify has removed all barriers to product creation, allowing over 2 million people to start successful merchandise businesses with the click of a button. Printify will become more popular as more manufacturers are available online and more ways to make your product ideas a reality.