Paris-based Pricemoov announced on Wednesday that it had raised $10 million (approximately €9.1 million) in a Series A funding round led by ISAI and Bpifrance Digital Venture.
Paris-based Pricemoov announced on Wednesday that it had raised $10 million (approximately €9.1 million) in a Series A funding round led by ISAI and Bpifrance Digital Venture.
A company experiencing rapid growth
Today, with inflation, supply chain disruptions and cost volatility, customers and consumers expect a certain level of transparency from businesses across all channels; businesses must therefore carefully review their pricing strategies to ensure they remain competitive whilst still making a profit. This is where Pricemoov comes in.
In 2018, Pricemoov had already raised nearly €2 million from Global Founders Capital, Kima Ventures and Financière Saint James. At that time, this provider of a multi-sector dynamic pricing solution claimed to have around ten clients. Whilst the company remains tight-lipped today about the number of users, including both SMEs and mid-market companies, “it has managed to attract some impressive clients, particularly in the United States, where it has been established for nearly two years, with CEO Pierre Hébrard having moved there,” says François Collet, a partner at Isai.
Strong investors
ISAI Gestion, an AMF-authorised asset management company with over €500 million under management, aims to finance and support high-potential technology companies in the seed or post-seed stage, or those that have already reached break-even point. “We are impressed by Pricemoov’s expertise in pricing and by the capabilities of its platform, and we believe the company is well positioned to accelerate its growth in this promising market,” says François Collet. “We look forward to working closely with Pricemoov’s management team to continue pushing the boundaries of pricing,” he adds.
Bpifrance Digital Venture provides funding to businesses at all stages of their development through loans, guarantees and equity. In addition to investment, the venture capital firm also offers advisory services, training, networking opportunities and an acceleration programme for start-ups, SMEs and mid-market companies.
“We believe that Pricemoov has the opportunity to bring smart pricing to businesses at any stage of their pricing maturity through an intuitive and user-friendly platform,” says Adrien Neel, Investment Director at Bpifrance Digital Venture.
Between 5 and 10 million in revenue
Pricemoov’s system brings together several of the company’s data sources – such as its product catalogue, stock levels and transactional data – by connecting to its ERP and CRM systems, and adapts in real time to the company’s needs. The tool thus enables users to simulate the impact of price changes on their revenue, as well as to compare different scenarios before making a decision. The French company achieves this through data science, end-to-end automation and an intuitive user experience.
Pricemoov claims to have recorded a 150 per cent year-on-year increase in turnover and to have grown its customer base by 200 per cent, including new clients such as Jokr, Recommerce, Samkaup and Audi.
The company’s largest source of revenue, estimated at between €5m and €10m, remains the sale of the solution, according to a source close to the matter, who also highlights services such as the configuration of pricing architecture. The company currently employs over 40 staff.
- Purchaser or Investor: ISAI, François Collet, BPIFRANCE INVESTISSEMENT, Adrien Neel, SOCIETE FINANCIERE SAINT JAMES
- Corporate Legal Adviser: GIDE , Pierre Karpik
- Purchaser’s Corporate Legal Adviser: JOFFE & ASSOCIES (Thomas Saltiel et Rudy Diamant)
- Financial Due Diligence for the Acquirer: CFINANCE , Jacques Haccoun , Julien Solyjan , Lucas Gauthier
- Environmental and ESG Due Diligence for the Acquirer: COLLECTIVELY.LIFE
- Fundraising Adviser / Agent: ALPHA CAPITAL PARTNERS
