Profitero, a Boston, MA-based global enterprise eCommerce SaaS analytics platform, raised $20m in Series B funding.
The round was led by Scaleworks Venture Equity Fund with participation from Conviction Capital.
The company will use the funds to exoand its business reach.
Led by newly appointed CEO Bryan Wiener, President Sarah Hofstetter, and CTO Sandor Palfy, Profitero provides a platform for brands accelerate their eCommerce sales. Using its proprietary technology and algorithms, brands can optimize their 4Ps (Product, Placement, Price and Promotions) across 8,000 retailer sites and 50 countries while also uncovering competitor behavior. The technology also estimates daily sales for products sold on Amazon, allowing brands to measure market share growth and size category opportunities for future investment. Users include Adidas, L’Oreal, General Mills and more than 4,000 other brands.