Feedvisor, a vendor of algorithmic repricing and demand planning technology for e-commerce marketplace sellers, secured a $20 million Series B round of funding last month.
The Tel Aviv, Israel-based firm, which works with companies that use marketplaces to sell products to businesses and consumers, plans to use the funds to expand its product offering and grow its U.S. operations. Investment firm General Catalyst led the funding round, joined by existing investors Square Peg Capital, Jal Ventures, Oryzn Capital and Titanium Investments. Feedvisor’s total funding to date is $33 million, the company says.
Feedvisor, whose clients include brand manufacturers, wholesalers and retailers, helps marketplace sellers keep pricing in tune with changing prices in their respective markets by monitoring their competitors’ pricing, customer ratings and shipping offers, Victor Rosenman, Feedvisor’s founder and CEO, said in a recent interview with B2BeCommerceWorld.com. Sellers “have to make critical decisions on extremely short notice and there is a lot of information to crunch. We can crunch data in an extremely short period of time.”
The new funding will help Feedvisor “stay focused on our vision to solve the basic dilemma of how to deal with more and more data in less and less time,” Rosenman said.
Feedvisor addresses the needs of marketplace sellers by applying machine-learning algorithms to the processes of pricing, demand-planning, assortment management and replenishment.
In each of the past three years, Feedvisor’s revenue and headcount have grown 100%, the company says. The company has 96 employees in New York, Tel Aviv and Seattle, and manages more than $2 billion in gross merchandise value, it says.
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