Pricefx Closes 2020 with Significant Revenue Growth, New Customers Worldwide and a Platform Reimagined for the Future of Pricing
Pricefx, the global leader in cloud pricing software, today announced another year of tremendous growth during its fiscal year ending December, 31, 2020. Despite a global pandemic and mandatory work-from-home initiatives in every region, the company recorded 44% year-over-year growth in subscription revenue.
This week, Pricefx was named to Built In Chicago’s “Best Places to Work” list, including additional accolades for “Chicago Best Midsize Companies to Work For” and “Chicago Best Paying Companies.” In 2020, Pricefx grew its global headcount by 29% and now employs nearly 400 full time people worldwide, and is currently looking to hire more than 25 new positions in the first quarter of 2021.
“The COVID-19 pandemic forced rapid and transformational changes onto our business in 2020, but this ultimately highlighted the flexibility and resiliency of our incredible team and products,” said Marcin Cichon, Co-Founder and CEO of Pricefx. “I am both impressed by, and deeply grateful for, the passionate dedication our Pricefx family showed this year, enabling us to overcome unprecedented business circumstances to successfully raise significant additional funding, launch innovative new solutions like Lightning and VELO, acquire AI optimization company Brennus Analytics and remain on a rapid growth path with 30 new customers coming on board. I believe our future has never been brighter as I look towards the coming year.”
Market Demand and Customer Wins
In 2020, Pricefx signed 30 new enterprise customers, including Altium Packaging, PLZ Aeroscience, Stahl Holdings B.V. and Verallia Group. The company serves customers in more than 37 countries, which include some of the largest manufacturing, retailing and energy businesses in the world.
To help businesses develop strategies to quickly react to changing market dynamics and challenges as a result of COVID-19, Pricefx offered its customers free access to Sales Insights Accelerator. This Accelerator is a preconfigured, easy to deploy, highly actionable pricing analytics solution that can analyze transactional data, quickly gain visibility into pricing opportunities and flag threats.
In June, Pricefx received $65 million in Series C funding, more than double the amount raised in their previous funding round, bringing the company’s total raised to $130 million. The round was led by funds advised by Apax Digital, the growth equity team of Apax Partners, with participation from existing investor Digital+ Partners. Over the last six months of the year, the company focused the new funding on expanding global market leadership and accelerating product innovation.
In May 2020, Pricefx acquired Brennus Analytics, a start-up using proprietary AI technology to provide unique optimization capabilities highly applicable to the challenges of complex B2B environments. The transaction allowed Pricefx to incorporate state-of-art AI technology into its price optimization software and bring on a team of exceptionally talented AI and data science professionals.
To that end, Pricefx launched a set of groundbreaking product enhancements in its Vesper release in November 2020. Delivering a more streamlined, powerful and agile pricing platform, the company introduced a sleek, dynamic new look for all of Pricefx’s industry-leading pricing modules with Unity UI; PriceOptimizer AI, a next-generation price optimization solution powered by transparent and predictive machine learning and multi-agent AI; and new pre-defined solution building blocks that quickly and easily incorporate best practice functionality.
Earlier in the year, Pricefx announced Lightning, the first turnkey solution to enable rapid activation of pricing excellence. Powered by Pricefx Accelerators, Lightning delivers a full suite of standard pricing analytics, management and CPQ realization tools, able to go live in six weeks or less. This was followed by a partnership with Bain & Company to launch three advanced pricing Accelerators to help Bain customers address frontline discounting, pricing leakage and promotion management.
Most recently, Pricefx introduced Velo, the industry’s first strategic large deal negotiation solution. Designed for large, complex deals, Velo maximizes profitability and leverage by combining proven strategy with innovative technology.
Awards and Accolades
In December, Tracxn included Pricefx in its Soonicorn Club of Germany which recognizes the top companies which have the potential to become Unicorns. As a Soonicorn, Pricefx has been placed amongst the leading tech startups of Germany. The rating is based on a detailed analysis by Tracxn internal sector specialist teams coupled with a combination of multiple publicly available signals such as market size, investment by marquee investors, execution excellence and future growth prospects.
Over the last 12 months, Pricefx products were also honored for innovation and customer traction. The 2020 SaaS Awards Program named Pricefx the Best SaaS for Sales and Marketing and the company took the Gold Stevie® Award for the manufacturing solution category in the 2020 International Business Awards. Pricefx was named the Bronze Stevie® Award winner in the 2020 American Business Awards for best cloud application/service.
The innovative Pricefx offering continued to garner attention from the global industry analyst community, earning them inclusion in the Gartner Magic Quadrant for CPQ for the second year in a row. Gartner included Pricefx in more than a dozen research reports, analyst notes and Hype Cycle reports, covering topics including AI and data science, pricing optimization, sales and CRM, and sales execution.
Pricefx remained in the leader quadrant on both the Pricing and Momentum G2 Grids for all four quarters of the year. The company has been reviewed by more than 50 verifed customers on the G2 platform to date. In 2020, Pricefx continued to make the Constellation ShortList™ for Price Optimization.
Demonstrating a strong partnership with SAP, Pricefx was a 2020 SAP® Pinnacle Award finalist for SAP App Center Partner of the Year. Finalists and winners in 34 categories were chosen based on recommendations from the SAP field, customer feedback and performance indicators. Additionally, its Optimized Dynamic Pricing (ODP) solution became an SAP endorsed app, a new category of solutions from SAP’s partner ecosystem to help customers become best-run, intelligent enterprises.
Established in 2011 in Germany, Pricefx is the global leader in SaaS pricing software, offering a comprehensive suite of solutions that are fast to implement, flexible to configure and customize, and friendly to learn and use. Pricefx delivers a complete price optimization and management platform based on native cloud architecture, providing industry leading time to value and total cost of ownership advantages to customers. Their innovative solution works for both B2B and B2C enterprises of any size, in any industry, in any part of the world. Pricefx’s business model is entirely based on the satisfaction and loyalty of its customers. Today, Pricefx delivers Passion for Pricing to hundreds of global customers in more than 40 countries worldwide. For more information, please visit www.pricefx.com.
+1 (415) 483-0480
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Kyoto Semiconductor Signs Supply and Reseller Agreement With CEL13.4.2021 03:00:00 CEST | Press release
Kyoto Semiconductor Co., Ltd., a leading optical device solution manufacturer with world-class technologies and Japanese quality, has announced that it has entered into an agreement with California Eastern Laboratories (CEL) to be a multinational reseller of Kyoto Semiconductor’s optical device solutions. The partnership extends Kyoto Semiconductor’s sales and support network not only to North America but to countries such as India and Israel while it enhances CEL’s product offering with Kyoto Semiconductor’s high-quality photodiodes for optical communication and sensing equipment “Kyoto Semiconductor is pleased to collaborate with CEL, one of the best suppliers of compound and silicon semiconductors, known for its superior customer support and technological expertise. With this partnership, we extend our customer reach worldwide, ranging from North America to India or Israel”, said Tsuneo Takahashi, CEO at Kyoto Semiconductor. “Our products are critical for the 5G and beyond-5G wirele
Bentley Systems Brings Infrastructure Digital Twins to NVIDIA Omniverse12.4.2021 19:00:00 CEST | Press release
GTC21 – Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, today announced that it is developing applications using the NVIDIA Omniverse platform for photorealistic, real-time visualization and simulation of digital twins of massive-scale industrial and civil infrastructure projects. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210412005214/en/ Image courtesy of Houston Waterworks Team (a Joint Venture of Jacobs Engineering Group, Inc. and CDM Constructors, Inc.) Bentley Systems has extended the Bentley iTwin platform to integrate with NVIDIA Omniverse to provide a graphics pipeline for AI-enhanced, real-time visualization, and simulation of infrastructure digital twins. This integration allows engineering-grade, millimeter-accurate digital content to be visualized with photorealistic lighting and environmental effects on multiple devices including web browsers, workstations, tabl
QCT Unveils Optimized Accelerated Server to Boost High-Performance Workloads12.4.2021 19:00:00 CEST | Press release
Quanta Cloud Technology (QCT), a global data center solution provider, today announced a new addition to its broad portfolio of NVIDIA-Certified SystemsTM with its QuantaGrid D43N-3U. This server complements QCT’s existing high-performance QuantaGrid and QuantaPlex family of servers, while enabling customers the ability to leverage the latest next-generation NVIDIA Tensor Core GPUs for advanced AI workloads, including those that run on virtualized infrastructure with the NVIDIA AI Enterprise software suite. NVIDIA Tensor Core GPUs on QCT systems are built on the rich ecosystem of AI frameworks from the NVIDIA NGC catalog, CUDA-X libraries, over 2.3 million developers, and over 1,800 GPU-optimized applications to help enterprises solve the most critical challenges in their business. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210412005024/en/ QuantaGrid_D43N-3U (Photo: Business Wire) “Utilizing NVIDIA accelerated computing
Mavenir Launches 5G Hyperconverged Edge AI Solution for Enterprise & Telco Market Based on NVIDIA Platforms12.4.2021 19:00:00 CEST | Press release
Mavenir, the industry’s only end-to-end cloud-native Network Software Provider and a leader in accelerating software network transformation for communications service providers (CSPs), announced today the launch of an AI-on-5G Hyper Converged Edge solution working in close collaboration with NVIDIA. Mavenir has developed this unique solution, based on NVIDIA’s hardware and software technologies, enabling Enterprises & Telcos to implement AI-on-5G applications for many promising verticals such as Manufacturing, Mining, and Healthcare that cover Industry 4.0 applications, including Industrial Internet of Things (IIoT), Intelligent Video Analytics (IVA) and Extended Reality (XR) and Gaming use cases. The use cases can be around remote and immersive collaboration, precision robotics control, people safety, intrusion detection, smart connected factories, real-time manufacturing component defect detection and proactive maintenance using near real-time analytics of sensor data. 5G enables an
Merck Advances ATR Inhibitor Berzosertib in Small Cell Lung Cancer With New Published Data and Initiation of Phase II Trial With Registrational Intent12.4.2021 17:04:00 CEST | Press release
Merck, a leading science and technology company, today announced key clinical advancements for berzosertib (M6620), an investigational, potent and selective ataxia telangiectasia and Rad3-related (ATR) inhibitor. Berzosertib is the leading asset in the company’s DNA damage response (DDR) inhibitor program and one of the most advanced ATR inhibitors in oncology clinical development industry-wide. Results from a Phase II proof-of-concept study conducted by the US National Cancer Institute (NCI) (NCT02487095)* and published in Cancer Cell showed that berzosertib in combination with the chemotherapy topotecan resulted in an objective response rate (ORR) of 36% among patients with relapsed small cell lung cancer (SCLC), including durable responses among a majority of responding patients with platinum-resistant disease.1 The NCI is also conducting a separate Phase II trial of berzosertib in combination with topotecan versus topotecan monotherapy in SCLC that has relapsed (NCT03896503)* which
Loomis Sayles Welcomes Susan Sieker as Chief Financial Officer12.4.2021 16:15:00 CEST | Press release
Loomis, Sayles & Company, an affiliate of Natixis Investment Managers, announced today that Susan Sieker has joined Loomis Sayles as executive vice president and chief financial officer (CFO). She also joins the Loomis Sayles Board of Directors. Susan reports to Kevin Charleston, chairman and chief executive officer of Loomis Sayles, and will oversee the finance organization. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210412005613/en/ Susan joins Loomis Sayles from Cambridge Associates, where she was the chief financial officer and oversaw financial planning and analysis, treasury, accounting operations, financial reporting, payroll and taxes. Prior to joining Cambridge Associates in 2012, Susan served in a variety of finance and risk leadership roles at Brinker International, including vice president and treasurer, vice president of global infrastructure, vice president of benefits, vice president of business assurance
Alira Health Strengthens Its Growth Strategy With a $35M Funding, Led by Creadev12.4.2021 15:00:00 CEST | Press release
Alira Health (www.alirahealth.com), a leading international advisory firm dedicated to advancing healthcare and life sciences, announced it has closed a $35M equity financing led by Creadev, an evergreen investment company backed by the Mulliez family. This new partnership will help accelerate the firm’s growth strategy, focused on merging pharmaceutical, medical and digital technologies development with medical care through a patient-centric approach. “I would like to thank our team of investors for joining our mission to enable healthcare transformation. Their investment positions us to change the way life sciences advisory services are delivered,” said Gabriele Brambilla, Chief Executive Officer and Co-Founder of Alira Health. “We are building a powerful continuum of services that spans the product and solutions development life cycle, supported by the recent additions of our patient engagement, real-world evidence and advanced analytics practices. This financing allows us to advanc
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom