Paris-based Pricemoov announced Wednesday that it has raised $10 million (about €9.1 million) in a Series A funding round led by ISAI and Bpifrance Digital Venture.
A company on the rise
Today, with inflation, supply chain disruptions and cost volatility, customers and consumers expect transparency from companies across all channels; companies need to carefully examine their pricing strategies to ensure they remain competitive, while making a profit. That’s where Pricemoov comes in.
In 2018, Pricemoov had already raised nearly €2M from Global Founders Capital, Kima Ventures and Financière Saint James. At that time, this publisher of a multi-sector dynamic pricing solution claimed about ten customers. Although the company remains discreet today about the number of users, including SMEs and ETIs, “it has been able to attract good references, particularly in the United States, where it has been established for nearly two years, the director Pierre Hébrard having moved there,” says François Collet, partner at Isai.
Strong investors
ISAI Gestion, an AMF-approved management company with over €500 million under management, aims to finance and support high-potential technology companies in the seed/post-seed phase or when they have already reached break-even. “We are impressed with Pricemoov’s pricing expertise and platform capabilities, and believe the company is well positioned to accelerate its growth in this promising market,” said François Collet. “We look forward to working closely with Pricemoov’s management team to continue to push the boundaries of pricing,” he adds.
Bpifrance Digital Venture finances companies at all stages of their development with loans, guarantees and equity. In addition to investment, the venture capital firm also offers consulting, training, networking and an acceleration program for startups, SMEs and mid-sized companies.
“We believe Pricemoov has the opportunity to bring smart pricing to companies at any stage of their pricing maturity with an intuitive and easy-to-use platform,” said Adrien Neel, Investment Director at Bpifrance Digital Venture.
Between 5 and 10 million in revenue
Pricemoov combines several sources of company data, such as product catalogs, inventories, and transactional data, by connecting to ERP and CRM systems, and adapts in real time to the company’s needs. The tool allows the user to simulate the impact of price changes on its revenues, but also to compare the different scenarios considered, before making a decision. The French company achieves this by leveraging data science, end-to-end automation and an intuitive user experience.
Pricemoov claims a 150% annual increase in revenue and a 200% increase in its customer base, including new customers Jokr, Recommerce, Samkaup et Audi.
The biggest source of revenue for the company, estimated at between €5 and €10 million, remains the sale of the solution, according to a source close to the case, which also relies on services such as the configuration of the pricing architecture. The company currently has a staff of more than 40 employees.
- Buyer or Investor : ISAI , François Collet , BPIFRANCE INVESTISSEMENT , Adrien Neel , SOCIETE FINANCIERE SAINT JAMES
- Company Corporate Lawyer : GIDE , Pierre Karpik
- Purchaser Lawyer Corporate : JOFFE & ASSOCIES (Thomas Saltiel et Rudy Diamant)
- Acq. DD Financial : CFINANCE , Jacques Haccoun , Julien Solyjan , Lucas Gauthier
- Acq. Environmental consulting, DD ESG : COLLECTIVELY.LIFE
- Fundraising Consulting / Agent : ALPHA CAPITAL PARTNERS
