Riga-based Printify closes $50M Series A funding round

Printify, a print-on-demand startup, has closed a Series A funding round amounted to $50 million, according to Printify’s blog.

• Founded in 2015 by Artis Kehris, Gatis Dukurs, and James Berdigans, Printify develops a print-on-demand and dropshipping platform.
• The platform already connects over 2 million merchants with print providers all over the world — and ships a million units per month.
• The $50 million investment round was led by Index Ventures, H&M Group, and Virgin Group. A number of angel investors from the Baltics to Silicon Valley joined the round. In total, the round attracted a whopping 47 investors.
• Printify is among the first companies in the Baltics to grant stock options to long-term employees. One-fifth of the total investment (or $10 million) was split between Printify employees, upping their salary of up to six figures.
• Printify currently employs over 620 people from all over the world.
• The company plans on using the majority of its investment to grow its team and develop the marketplace globally.