Feedvisor, a Tel-Aviv, Israel-based algorithmic pricing and business intelligence (BI) platform for online retailers, raised $6m in Series A funding.
The round, which followed a $1.7m seed round in October 2013 by JAL Ventures, Oryzn Capital and Micro Angel Fund (read here), was led by Square Peg Capital.
The company intends to use the funds to continue developing its BI platform, to optimize every aspect of the retailer’s business operation.
Led by Victor Rosenman, CEO and Founder, Feedvisor provides a fully algorithmic repricing and business intelligence platform, which offers e-commerce marketplace sellers a cloud-based solution to keep their prices competitive and makes adjusts prices in real-time based on the retailers’ business goals. It leverages self-learning algorithms that automatically analyze the competitive environment, product demand, and price elasticity function of precisely every retailer’s products and calculate its optimum price according to the retailer’s specific business objectives.
The platform is currently used by online retailers worldwide and manages over $1 billion worth of inventory.