Feedvisor, a Tel Aviv-based algorithmic pricing and business intelligence platform for online retailers, said Tuesday that it has secured $6 million in Series A funding. Square Peg Capital led the round.
TEL AVIV, ISRAEL, August 26, 2014 — Feedvisor, the world’s first algorithmic pricing and business intelligence (BI) platform for online retailers, announced today $6 million in Series A funding, led by Square Peg Capital. This round of funding follows a $1.7 million seed round in October 2013 by JAL Ventures, Oryzn Capital and Micro Angel Fund, who also participated in this round.
“Combining Big Data technology with machine learning algorithms has led to drastically increased performance levels for Feedvisor’s clients, with up to 500% increase in their sales and 40% increase in their profit margins,” said Victor Rosenman, CEO and Founder of Tel-Aviv based Feedvisor. “With this substantial funding round we are looking to further evolve our pricing algorithms and continue developing our BI platform, to optimize every aspect of the retailer’s business operation.”
Today, the Feedvisor platform is used by online retailers worldwide and manages over $1 billion worth of inventory. The company has revolutionized the way online retailers operate, by freeing them from programming complex pricing rules. Instead, Feedvisor’s self-learning algorithms automatically analyze the competitive environment, product demand, and price elasticity function of precisely every retailer’s products and calculate its optimum price according to the retailer’s specific business objectives.
“Over the last few years, marketplaces have become the most rapidly growing sector of e-commerce, and we’ve realized that there is a need for e-commerce retailers to have highly sophisticated technology they can rely on to achieve a competitive edge,” commented Dan Krasnostein, Parter at Square Peg Capital. “Feedvisor brings to the table an unmatched competitive advantage in the dynamic pricing market, with a superior repricing and business intelligence platform. We look forward to working with Feedvisor’s team in making it the platform of choice for online retailers.”
Feedvisor is the world’s first fully algorithmic repricing and business intelligence platform, offering e-commerce marketplace sellers a best in class, cloud-based solution to keep their prices competitive and makes adjusts prices in real-time based on the retailers’ business goals.
Feedvisor’s technology has won several prestigious industry awards, including the Red Herring Top 100 in 2014, and has been recognized for its excellence by independent analysts, such as Frost and Sullivan’s Technology Leadership Award 2014. Feedvisor has been internationally praised by both major media outlets and respected industry opinion leaders.
Founded in 2011, Feedvisor has been deployed by hundreds of retailers all over the world, with a purely success-based, pay-as-you-go style fee, and represents the next generation of automated pricing and business intelligence solutions. Visit us at www.feedvisor.com