Having led the company’s Series A fundraise in 2016, Talis continues to support Pricefx on its growth journey
Today, Pricefx – the cloud-based pricing software company – announces its latest $65 million Series C funding round led by Apax Digital. The round brings the total raised by the company to $130 million.
Founded in 2011, Prague-based Pricefx provides a modular SaaS solution for price optimisation management (PO&M) and configure-price-quote (CPQ) for enterprises of any size. Pricing optimisation software helps companies accurately define the price of goods across a vast and constantly changing spectrum of data and variables. This can include things like customer survey data and segments, competitor data, operating costs, inventories, and historic prices and sales. CPQ software aggregates these variables, thus enabling companies to configure products or services in the most optimal way (i.e. bundling, up-sells, etc.), and price them according to costs, competition and local economic factors.
The company has seen significant growth and traction in the past 12 months, acquiring French market leader Brennus Analytics in May, which adds AI capabilities to its pricing optimisation solution.
Pricefx plans to use the new funding to expand and solidify its global market leadership position as the only true SaaS platform in the pricing industry. The company also plans to accelerate product innovation, extend its partner ecosystem, and evaluate strategic acquisitions.
Talis co-led Pricefx’s two Series A rounds with Credo Ventures in 2016 and 2017, followed on in the company’s B rounds in 2018 and 2019, and has closely supported the company operationally ever since.
“Pricing is being recognized as a critical competency for global enterprises and Pricefx is leading the way for a SaaS-based approach,” says Malkara Marcin Cichon, CEO and co-founder of Pricefx. “The latest investment confirms Pricefx’s resilience, ability to grow its customer base, and innovate – even during challenging times. This investment will further power our global commercial strategy and aggressive product innovation, by attracting critical talent, expanding our growing ecosystem of partners, and enabling further potential strategic acquisitions – all in pursuit of our mission to bring pricing solutions to as many companies as we can, as simply and effectively as possible.
“As one of our first investors, Talis has been an integral partner to Pricefx: maintaining our ambitious vision and helping us to become the global, market-leading SaaS company that we are today. We’ve learnt a lot along the way, particularly that our investors are not solely there to support on the funding side, but that they also need to be there for operational, commercial and personal support. Talis has supported us in all of these ways, and we’re glad to have them with us for the rest of our journey.”
“Pricefx caught our attention as pricing software was a small but fast-growing segment in Gartner’s reports, seeing increasingly more machine learning adoption year-on-year,” http://theputneycanteen.co.uk/men/shirts?page=17 says Matus Maar, co-founder and managing partner at Talis Capital. “It was immediately clear then that pricing was big growth area for many companies across all industries, demonstrating the huge opportunity for Pricefx in the market.
“Playing perfectly into our tech infrastructure thesis, our team quickly identified price optimisation as one of the most critical areas where businesses can quickly add value, and so we led the company’s Series A with Credo Ventures. Over the years, Pricefx has seen enterprises of all sizes ditching their traditional siloed tools for its SaaS platform which is equipped to manage, optimise and update prices – making pricing software quicker, simpler and more accessible. We’ve been hugely positive about Pricefx’s potential from the moment that we invested, and Marcin has led the team as CEO and founder to immense success. We’re excited to see where the support from Apax will take the company next.”