Upstream Commerce, a Tel-Aviv, Israel-based provider of an automated competitive pricing and product analytics Software-as-a-Service (SaaS) for online retailers, has received a venture capital financing of undisclosed amount from YL Ventures.
In conjunction with the funding, YL Ventures’ Managing Partner, Yoav Andrew Leitersdorf, has joined Upstream Commerce’s board of directors.
Founded by online retail technology experts including CEO Amos Peleg and CTO Shai Geva, Upstream Commerce helps online retailers proactively adjust product pricing to appropriate levels based on market conditions.
The service continually searches through competitors’ sites and analyzes relevant data in order to provide customers with effective insights, without requiring IT integration.
Commenting on the funding, Amos Peleg said that Upstream Commerce intended to leverage YL Ventures’ domain expertise and global professional network to further develop the business.