With the new capital, the startup intends to expand its growth, and further acquisitions are also possible. Blog post explained Marcin Cichon, CEO and co-founder of Pricefx:
“This investment will enable us to continue breaking down barriers and further our mission to make pricing less elitist and more accessible to all companies that want to grow through strong pricing.”
“We are excited to support Marcin and the entire Pricefx family in their mission to democratize pricing software and deliver best-in-class time-to-value and exceptional return on investment to their clients,”
says Daniel O'Keefe, Managing Partner of Apax Digital. He and Mark Beith, Partner at Apax Digital, will also join Pricefx's board of directors as part of the investment.
"We are excited and proud to continue supporting the Pricefx team on their global growth trajectory. Pricefx demonstrates a relentless commitment to product innovation and customer success, and we believe they are well on their way to building the undisputed global leader in the pricing software category,"
also leads Axel Krieger, founding partner of the Munich-based growth fund Digital+ Partners.
Pricefx acquired a French startup in May
Pricefx, based in Pfaffenhofen an der Glonn 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.
The company, founded in 2011, secured additional funding in December 2019. In an extended Series B financing round, the startup was able to raise a total of 48 million euros In May, the first acquisition followed: the Munich-based company bought the Toulouse-based startup Brennus Analytics with its AI-based pricing software.
