Boomerang Commerce, a Santa Clara, CA-based provider of a real-time analytics platform for for online retailers to make competitive pricing and assortment decisions, closed $8.5m in Series A financing.
Backers included Trinity Ventures and Madrona Venture Group. In conjunction with the funding, Karan Mehandru from Trinity Ventures and Scott Jacobson from Madrona Venture Group are joining Boomerang’s board.
The company intends to use the funds to expand its engineering and go-to-market teams, and to build additional retail applications.
Led by Guru Hariharan, founder and CEO, Boomerang provides Dynamic Price Optimizer, which analyzes more than 100 discrete data points per SKU, including competitors’ prices, to help retailers re-price millions of products in real-time. It tests, measures and implements pricing strategies on a continuing basis; leveraging optimization criteria selected by the retailer.
Customers include Staples, Sears, DHGate, Groupon Goods and RadioShack.
The company has a product development center in Bangalore.