Optimus Price raises €1 million to consolidate their lead in the retail pricing market

BARCELONA, SpainFeb. 16, 2022PRLog — Optimus Price, the Spanish leading solution for pricing automation with AI, has just announced the closure of a €1 million funding round. The investment will be used to scale its operations across Europe, integrate its platform with new channels, and improve its technology with pricing models for more sectors and product categories.

Optimus Price is a software-as-a-service (SaaS) that uses Artificial Intelligence to improve retail profits, both physical and e-commerce. Thanks to the use of AI, Optimus Price makes sure that every product in the store always has the optimal price according to demand and market conditions.

The demand for pricing software has increased 75% since the beginning of the COVID-19 pandemic. Half of all retailers still use outdated processes and tools to set prices manually. This leads to inefficiencies, and the inability of those businesses to compete effectively, creating opportunities for those that can move first and adapt quickly and proactively to consumer needs.

The company, a retail-tech SaaS, has increased its monthly recurring revenue (MRR) by 1800% in this period, and has managed to acquire clients such as Nestlé, partners such as Seidor, and presence on eBay. Optimus Price is also backed by Telefónica and Wayra, its open innovation hub.

This round has been driven by Zone2Boost, the international innovation program promoted by CaixaBank, Visa, Global Payments and Worldline; Wayra; a mix of international business angels, including two of the most relevant in Spain, Albert Armengol and Andreas Mihalovits, and the influx of almost 500 micro-investors through a campaign on UK-based crowdfunding platform Crowdcube.

Prior to the round, Optimus Price merged with the start-up Athena in late 2020. Athena, a specialist in price and competitor monitoring, improved Optimus Price’s portfolio, combining both technologies in a single solution.

“We are very grateful to our investors for seeing the potential in our vision and platform, and excited to see how our positive traction is matching their interest”, says Carlos Fenollosa, CEO of Optimus Price.

Xavier Tous, General Manager at Optimus Price says, “this influx of capital will certainly help us continue in our existing growth path, by accelerating the development of our operational capabilities, letting us scale in new geographies, and allowing for the development of new artificial intelligence models which will overall strengthen our platform”.

About Optimus Price

Optimus Price is the Spanish leading solution for price optimization with AI. Its unique technology allows retailers and brands to increase their profits without effort through algorithms which dynamically calculate the optimal price depending on competitors, seasonality, demand, stock, and more.

Its pricing platform helps some of the biggest brands in the world as well as small e-commerces.

This European company has its headquarters in Barcelona. Founded by researchers of the Barcelona Supercomputing Center and serial entrepreneurs, Optimus Price has been backed by well-recognised investors such as Seedrocket, Wayra, ESADE and IESE, and has received recognition by universities, public institutions, start-up accelerators, multinationals, and the press.

For more information, please visit https://optimusprice.ai