As part of an extended Series B round, Pricefx will receive €23 million. entire financing round This brings the company's value to 48 million euros. Founded in Munich in 2011, the startup helps companies with pricing.
Investor Digital + Partners and management consultancy Bain & Company are leading the expanded financing. Talis Capital, the initial investor from the Series A round, is also participating.
Pricefx plans to use the funds to further develop its platform, expand its functionality, launch additional products, and focus more intensively on sales and marketing. The Munich-based company also aims to continue its international growth. According to the company, its value has nearly tripled in the last 12 months alone.
Pricefx, based in Pfaffenhofen near Munich, offers cloud pricing software. An algorithm calculates the optimal price for products in online shops based on inventory levels, competitor prices, user data, and operating costs. This is designed to make the sales process significantly faster and more successful.
Pricefx considers acquisitions
The company is currently experiencing great momentum, especially in the United States, says the CFO Tom FenclThe financing will enable the company to more than double its sales and marketing spending in the coming year. The company is also beginning to consider potential acquisitions of other companies, for example, in the areas of optimization and artificial intelligence.
