Feedvisor bags $6m investment
This week ecommerce repriced Feedvisor have announced success in bagging more investment. They’ve successfully raised $6 million in Series A funding, led by Square Peg Capital.
“Combining Big Data technology with machine learning algorithms has led to drastically increased performance levels for Feedvisor’s clients, with up to 500% increase in their sales and 40% increase in their profit margins,” said Victor Rosenman, CEO and Founder of Tel-Aviv based Feedvisor. “With this substantial funding round we are looking to further evolve our pricing algorithms and continue developing our BI platform, to optimize every aspect of the retailer’s business operation.”
We look forward to seeing how this investment is put to use in developing the Fedvisor product in the months to come.
It strikes me that this is also, more than anything a vote of confidence in the idea of repricers in general, not just Feedvisor in particular. If you aren’t familiar with repricers, we strongly suggest you check them out. They could provide you with a very real filip to your business.
I see it as vindication for the industry. Due to their nature repricers tend to be controversial. Before I got involved in the same industry five years ago I was told by a certain well known eBay expert that such a thing was not needed and in general a very bad idea.
It is good to see the the astronomical grow in business due to Repricer and one should always try to see result.
With regards to “ebay expert” saying it is generally a bad idea, all I can say is to listen to experts but experiment for yourselves to see results.
I’d also say that in 5 years lots of things change.