Price (Q), An emerging company offering cloud-based pricing programs, raised € 25 million in category B financing. The leading round is the European investor growth technology B2B + Partners and consulting firm Bain & Company. Prague-based Credo Ventures and London-based Talis Capital, Which both supported the f (x) price in the A series, I also participated in this new round.
Founded in 2011, PricewaterhouseCoopers, based in Munich, offers a typical solution to the Software Management System (SaaS) for price management (PO & M) and price setting (CPQ) for organizations of any size.
The price optimization program usually helps companies accurately determine commodity prices across a large and ever-changing set of data and variables. This can include things like data, customer survey segments, competitors' data, operating costs, inventories, prices, and historical sales.
CPQ compiles these variables, thus enabling companies to optimize products or services (such as aggregation, sales, etc.), and their price according to costs, competition and local economic factors.
This final result is that it can dramatically speed up and improve the accuracy of the pricing process to give customers the best possible price according to all the above factors.
The price f (x) says it currently serves more than 80 global and fourth-tier B2B and B2C customers across a variety of industries, including Robert Bosch, SchneiderElectric, Owens-Illinois, Iron Mountain and Sonoco. The company has also developed a strong partner system with leading global technology, consulting and integration providers, including Bain & Company, and SAP.
The price f (x) is In the midst of litigation With rival United States Vendavo on a number of patent disputes. In December 2017, Vendavo filed a lawsuit against Price f (x), which is refuted by the German company. Earlier this week, PricewaterhouseCoopers filed a petition to review the covered work method (CBM) of four Vindavo patents, saying it would soon be presented fifth, which would cover together the challenges of all patent applications that Vendavo In litigation between the parties.
"Price f (x) has become the leading pricing solution provider in SaaS in the market through its customer-centric approach and by offering a flexible, feature-rich, fast-paced, flexible pricing tool," says Marcin Cichon, co-founder and co-founder For prices and (o), in a statement. "Our success depends on the continued satisfaction and loyalty of our customers." This new financing will allow us to help more companies grow by increasing our existing platform capabilities and also offering a new product offering to the SME market segment.
"For most companies, prices are the most effective leverage to increase profits," says Ron Kermish, head of global pricing for Bain & Company. However, many companies leave money on the table because they do not determine the best prices or ensure that customers are already paying the price they set. Bain & Company believes that investing in the price f (x) represents a great opportunity to help the price f (x) to become a realistic criterion in pricing and thus also be the best competitive weapon for Bain customers, staying at the forefront of pricing. "