Print On-Demand Company Printful Now Valued At $1 Billion As Revenues Climb 80% During The Pandemic
The print-on-demand and fulfillment company’s revenue climbed nearly 80% last year as demand rose for printed goods ordered online
Printful Inc., a print on-demand and fulfillment company, has received a $130 million investment from private-equity firm Bregal Sagemount, giving the digital print business a valuation of more than $1 billion.
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 honored to be recognized among the best startup 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 $116 million in revenue, Mr. Siksnans said. Over the course of 2020, the company’s revenue rose by almost 80% to more than $200 million, he added.
The company attributes its growth to increased selling of goods online, as people were furloughed and began doing things such as designing T-shirts and other items that they sell online from their homes, Mr. Siksnans said. Printful also benefited from the shift to online services as local printing shops closed during the pandemic.
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.
About Printful
Printful is an on-demand printing and warehousing company that helps people turn their ideas into brands and products.
The company fulfills and ships custom clothing, accessories, and home & living items for online businesses.
Since its founding in 2013, Printful has been trusted to deliver 29M+ items, and in 2020 the company hit a revenue milestone of $200 million.
Printful has scaled to a team of 1,600+ people across nine fulfillment centers around the world.
