Price f(x) Raises €4 Million Series A from Credo Ventures and Talis Capital
Price f(x), a Pricing Optimization Software company with operations in Central Europe, US and Asia, announced that it closed a funding round from Prague-based Credo Ventures, and London-based Talis Capital.
Price f(x) is the maker of a full suite of SaaS-based pricing optimization tools which give medium and large corporations greater control and visibility over their margins and profitability. Among other functionalities, Price f(x) empowers sales forces with a Configure Price and Quote (CPQ) functionality to speed up the closing process, identify upselling and cross-selling opportunities and better manage on- and off-invoice discounts and rebates.
Following a very successful year which saw Price f(x) included in Gartner’s “Market Guide for Price Optimization”, and several high-profile corporations around the world added to its client list, Price f(x) co-founder and CEO Marcin Cichon commented: “This year was PFX’s first step into transitioning from a very promising startup with clear differentiation and unique value proposition, into a world leader in pricing and CPQ SaaS solutions. With this investment, Credo and Talis have confirmed that PFX’s vision to disrupt established industry players is ready to be executed. Their financial and operational support will allow PFX to expand its existing commercial operations in North America, Europe and Asia, while sustaining the flexibility and speed of implementation of our solution. With this announcement, I would also like to take the opportunity to inform everyone that we will be hiring heavily in our sales and tech teams and will be eagerly looking for exceptional talent around the globe who want to take part in this exciting journey.”
Ondrej Bartos, partner at Credo Ventures said: “We became really impressed with Marcin and his team of highly experienced pricing optimization executives, and their hunger to disrupt this industry. What Price f(x) have accomplished to date is remarkable, and we’re really excited about what we believe they can deliver with more support.”
Matus Maar, partner at Talis Capital said: “Price Optimization is now essential for any enterprise, and the tools delivering this must be much more than just ‘standard’ or support-based products. Price f(x) have created what we feel to be a truly market-leading product, which is a genuine reflection of the team and expertise behind it. We are extremely positive about the journey ahead of Price f(x) and are proud to be part of it.”
About Price f(x) AG
Established in 2011 in Germany, Price f(x) AG is the provider of a full-suite price management and CPQ SaaS solution, offering broad and flexible support to the entire price management closed loop cycle of Price Strategy, Controlling, Setting and Realization. The solution is suitable for any industry facing the classical but also very specific pricing challenges of commercial organizations of any size and geographical location. Price f(x)’s vision is to become and stay the leading SaaS pricing and CPQ solution provider through offering easy to use, fast to implement, flexible to adapt, risk free and inexpensive, comprehensive solutions. Everything we do is defined by our customers’ success. Our business model is entirely based on the satisfaction of our customers and their loyalty with us, not a signature on the dotted line for a long-term commitment.
Source: Price f(x) Press Release