NEW YORK, Jan. 31, 2017 (GLOBE NEWSWIRE) — Feedvisor, the leader in algorithmic repricing and demand planning for eCommerce marketplace sellers, has secured a $20 million Series B round led by General Catalyst. Larry Bohn, managing director of General Catalyst and an investor and board member of HubSpot, Demandware and BigCommerce, will be joining the Feedvisor board. The capital will be used to expand Feedvisor’s product offering and accelerate the growth of its U.S. operations. This round, which included participation from existing investors Square Peg Capital, Jal Ventures, Oryzn Capital and Titanium Investments, brings Feedvisor’s total funding to date to $33 million.
“Online marketplaces such as Amazon have revolutionized retail and created amazing growth opportunities for online retailers. These retailers now face the unique challenge of making business-critical decisions in a highly competitive and rapidly changing environment,” said Victor Rosenman, Feedvisor’s founder and CEO. “Feedvisor addresses the complex needs of marketplace sellers by applying machine-learning algorithms to the processes of pricing, demand planning, assortment management and replenishment. As a result, over the last 12 months, our customers have consistently outperformed the market and achieved outstanding business results.”
This latest round comes on the heels of consistent growth for Feedvisor. In each of the past three years, Feedvisor’s revenue and headcount have grown 100 percent. Today, Feedvisor employs 96 employees in its three locations in New York, Tel Aviv and Seattle, and manages over $2 billion in GMV. The company plans to double its staff this year across all locations.
“There is a massive change in the way consumers purchase products today and this is disrupting the entire chain of how products are manufactured, sold and delivered,” said Larry Bohn, managing director of General Catalyst. “With its leadership position in the market, Feedvisor is fueling and empowering a new generation of retailers to profit from this shift. Those who are taking advantage of its technology are winning big.”
About General Catalyst
General Catalyst is a venture capital firm that makes early-stage and transformational investments. The firm backs exceptional entrepreneurs who are building innovative technology companies and market leading businesses, including Airbnb, BigCommerce, ClassPass, Datalogix, Datto, Demandware, Gusto (fka ZenPayroll), The Honest Company, HubSpot, KAYAK, Oscar, Snapchat, Stripe, and Warby Parker. The General Catalyst partnership leverages its broad experience to help founders build extraordinary companies. General Catalyst has offices in Cambridge, MA, Palo Alto, CA and New York City.
For more information, visit: www.generalcatalyst.com or www.twitter.com/gcvp.
About Feedvisor
Feedvisor is the pioneer of Algo-Commerce — the discipline of using big data and machine learning algorithms to make business-critical decisions for online retailers. Feedvisor’s cloud-based algorithmic repricing and revenue intelligence solutions power millions of pricing decisions daily, providing retailers with actionable insights to maximize profitability and drive their business growth. For more information about Feedvisor, visit www.feedvisor.com.