Feedvisor, a Tel Aviv, Israel-based provider of an algorithmic repricing platform for online retailers, raised $1.7m in venture funding.
The round was led by JAL Ventures, with participation from early stage investors Oryzn Capital and Micro Angel Fund. In conjunction with the funding, Joshua Levinberg, Managing Partner of JAL Ventures, will be joining Feedvisor’s board of directors.
The company intends to use the funds to further develop the product and accelerate global growth.
Founded in 2011 by Victor Rosenman, CEO, Feedvisor offers a self-learning algorithm that automatically analyzes the competitive environment, product demand, and price elasticity function of every product and calculates its optimum price according to the retailer’s specific business objectives. It then continuously adjusts this price to improve sales, optimize profit margins and take advantage of subtle market imperfections.
The company recently launched its SaaS solution, targeted to Amazon Marketplace Sellers worldwide, and its latest version, released in October, fully integrates Amazon’s new Subscriptions API.
Feedvisor is used by hundreds of retailers all over the world, with a success-based, pay-as-you-go style fee,