Price f( x )~ ATAGEND, a startup that offers cloud-based pricing software, has raised EUR2 5 million in Series B fund. Contributing the round is European B2B technology growth investor Digital+ Partners, and consulting firm Bain& Company. Prague-based Credo Ventures and London-based Talis Capital, which both backed Price f( x) at Series A, have also participated in this new round.
Founded in 2011, Munich-based Price f( x) provides a modular SaaS solution for cost optimisation management( PO& M) and configure-price-quote( CPQ) for enterprises of any size.
Pricing optimisation software typically helps companies accurately define the cost of goods across a vast and constantly changing spectrum of data and variables. This can include things like customer survey data and segments, challenger data, operating costs, inventoryings, and historic prices and sales.
CPQ software aggregates these variables, thus enabling a corporation to configure products or services in the most optimal way( i.e. bundling, up-sells, etc .), and cost them according to costs, tournament and local economic factors.
This end result is that is that it can drastically speed up and improve the accuracy of the quoting process to give customers best available price possible in accordance with all of the above factors.
Price f( x) says it currently serves over 80 world, blue-chip B2B and B2C customers across a variety of industries, including Robert Bosch, SchneiderElectric, Owens- Illinois, Iron Mountain and Sonoco. The company has also developed a strong spouse ecosystem with resulting global engineering, consulting and integration providers, including new benefactor Bain& Company, and SAP.
Notably, Price f( x) is in the midst of litigation with U.S. challenger Vendavo over a number of patent disagreements. In December 2017, Vendavo launched a suit against Price f( x ), which the German company refutes. And earlier this week, Price f( x) filed petitions for “Covered Business Method( “CBM”) Review” of four Vendavo patents, and says it will imminently file a fifth, which together will encompass challenges to all of the patent claims that Vendavo has asserted in litigation between the two parties.
“Price f( x) has become the leading SaaS pricing solution provider on the market through its patron centric approach and by offering a feature rich, highly flexible pricing tool “its also” peril free and fast to enforce, ” says Marcin Cichon, CEO and co-Founder of Price f( x ), in the following statement. “Our success is based on the continued contentment and loyalty of our customers. This new funding will allow us to help even more businesses to thrive by further expanding our existing platform capabilities and also introducing a new product offering for the SME market segment “.
“For most corporations, pricing is the single most effective lever to boost earnings, ” says Ron Kermisch, Bain& Company’s world pricing leader. “Yet many companies leave money on the table since they are do not set best available price or ensure clients actually paying off cost they have determined. Bain& Company sees investing in Price f( x) as a great opportunity to help Price f( x) to become the de-facto standard in pricing and with that to be also the best-of-breed competitive weapon for Bain’s clients, to stay at the cutting edge of pricing “.