The Ramat Gan based company has developed algorithmic repricing and demand planning for e-commerce marketplace sellers.
As reported in Globes:
Israeli algo-commerce company Feedvisor has raised $20 million in a Series B financing round led by General Catalyst, which included participation from existing investors Square Peg Capital, Jal Ventures, Oryzn Capital and Titanium Investments. Larry Bohn, managing director of General Catalyst will be joining the Feedvisor board.
Tel Aviv-based Feedvisor’s was founded in 2011 by CEO Victor Rosenman and has raised $33 million to date including the latest financing round.
Rosenman said, “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. 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.”
Australian retailers can expect continued growth in the e-commerce sector. Australia’s digital buyer penetration rate is at 62.3 % in 2017 and e-commerce sales are expected to increase by 21% by 2018.