Israeli e-commerce optimizing startup Feedvisor announced Tuesday the close of their Series B round, racking up $20 million in new funding.
Feedvisor is a “repricing engine” if you will that automatically alters price tags on the stock in your Amazon store when market conditions related to demand, supply, or competition change. It also takes into account factors like geographic distribution and customer service records that could affect how the consumer views the seller.
“We solve the basic problem of complexity of their business: competition, prices, demand (which changes, but over time and is relatively steady), and managing their inventory,” Feedvisor Founder and CEO Victor Rosenman told Geektime in January. “What changes faster is your ability to be in the top rank, which is greatly affected by competition. The velocity of sales is correlated by demand.”
The Series B funding round was led by the American General Catalyst with Australia’s Square Peg Capital, Oryzn Capital, Jal Ventures, and Titanium Investments also putting in cash.
“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,” General Catalyst’s managing director Larry Bohn, who will join the Feedvisor board, wrote in a statement. “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.”
Rosenman’s company is not the only game in town, doing battle with BQool, RepricerExpress, and Hackensack, New Jersey’s Appeagle. North Carolina’s ChannelAdvisor, which went public in 2013 after backing from eBay and New Enterprise Associates (NEA), recently inked an agreement to provide repricing services for Wal-Mart sellers.
Feedvisor manages 100 employees in three offices between Tel Aviv, New York, and in the Amazonian territory of Seattle.