Prisync, an Istanbul, Turkey-based pricing software company, raised $1.1M in seed funding.
The round was led by Collective Spark, with participation from Esor Investments.
The company intends to use the funds to accelerate product development efforts and grow its global customer base.
Founded by Burc Tanir, Samet Atdag & Neslihan Sirin Saygili, Prisync is a competitive pricing intelligence & dynamic pricing software company. It helps all sizes of e-commerce companies across the world by automating their competitor price tracking & pricing optimization processes.
The company currently provides its services to hundreds of customers in more than 50 countries.
According to Burc Tanir, CEO, the e-commerce pricing software market is still under-tapped. He said: “Obviously, we’ll double down on the working customer acquisition channels & tactics that we’ve tested and validated in the past. However, in addition to these straight-forward investments, we’ll continue building a thought leader image in our industry by increasing the awareness around pricing automation in the global e-commerce market by striking up impactful partnerships. We’ll also continue evaluating potential competitor acquisition in the meantime.”
As a starting point for such plans, the company already announced its technology partnerships with 2 major ecommerce platforms Magento & Shopify last year and acquired Australia-based competitor Spotlite (in March 2019).