Pricemoov, a Paris-based cloud-based firm specializing in providing intelligent pricing solutions, revealed that it has secured approximately €9.1M ($10M) in a Series A funding round. The funding was led by ISAI and Bpifrance Digital Venture. Pierre Hebrard, CEO and Co-Founder of Pricemoov, expressed his excitement for the support received from investors and the prospects for the company’s growth in the future.
According to Pricemoov, the newly acquired funds will be utilized to expand the team, allocate resources towards product development, and extend its international footprint. Pierre Hebrard further stated that the investment would facilitate the company’s growth, increase the reach of its platform, and improve the quality of its services, thereby fulfilling its goal of assisting businesses in all sectors to make more informed pricing decisions with greater agility and certainty.
What is the problem that Pricemoov aims to address?
As the economic environment continues to evolve, businesses are confronted with an increasing number of obstacles in determining the prices of their offerings. Inflation, supply chain disruptions, and fluctuations in costs are some of the factors that can influence pricing decisions, causing profitability to become a major challenge in a highly competitive market.
Moreover, with the advent of the omnichannel trend and dynamic customer preferences, the pricing landscape has become even more complex. Given the expectation of a seamless experience across all channels, businesses must devise a pricing strategy that balances competitiveness with profitability.
This is where Pricemoov comes into play.
Pricemoov: Empowering businesses to make informed pricing decisions
Pricemoov was established by Pierre Hébrard and François Aubert with the objective of aiding companies in making sound pricing decisions and ensuring profitability. To achieve this, the French firm relies on data science, end-to-end automation, and user-friendly interfaces.
According to Pricemoov, the company has observed an annual growth rate of 150 per cent in revenue and has expanded its clientele by 200 per cent, attracting new customers such as Jokr, Recommerce, Samkaup, and Audi.
ISAI invests in distinctive projects that are operated by ambitious teams which it rigorously selects and actively supports.
As an AMF-approved investment management firm with over €500M under management, ISAI Gestion aims to finance and provide assistance to high-potential Tech companies at the seed/post-seed stage or when they have already attained the break-even point.
Francois Collet, Partner at ISAI, remarks, “We are impressed with Pricemoov’s proficiency in pricing and platform capabilities, and believe that the company is well positioned to expedite its growth in this promising market.”
Furthermore, Collet states, “We are eager to collaborate closely with Pricemoov’s leadership team to continuously challenge the boundaries of pricing.”
Bpifrance Digital Venture provides funding in the form of credit, guarantees, and equity to companies at every stage of their development.
In addition to investments, the venture capital firm also offers consultancy, training, networking, and an acceleration programme for startups, small and medium-sized enterprises, and mid-sized firms.
Adrien Neel, Investment Director at Bpifrance Digital Venture, states, “We believe that Pricemoov has an opportunity to introduce intelligent pricing to businesses at any stage of their pricing journey with an easy-to-use and user-friendly platform.”
Furthermore, Neel adds, “We are thrilled to collaborate with Pricemoov to support their ongoing initiatives in making pricing accessible to everyone.”