Upstream Commerce, which provides an automated competitive pricing and product analytics Software-as-a-Service (SaaS) for online retailers has raised $1.25 million from YL Ventures, a global venture capital firm.
Upstream Commerce helps online retailers proactively adjust product pricing to the most appropriate levels based on market conditions. The service continually searches through competitors’ sites and analyzes vast amounts of relevant data to provide the most effective insights, using an intuitive interface.
YL Ventures’ Managing Partner, Yoav Andrew Leitersdorf, has joined the Upstream Commerce board of directors as part of the investment. He said, “Traditional pricing and product intelligence solutions have been difficult to use and expensive to maintain. Upstream Commerce ‘disrupts’ this space with its fully-automated approach. Upstream Commerce makes competitive data easily available for online retailers to explore, analyze and take advantage of. Their customers have unprecedented visibility into their competitors’ latest promotions, product assortment, and pricing changes, and they can make timely educated decisions, improve conversion rates, and increase profits.”
Upstream Commerce co-founder and CEO Amos Peleg said, "We pioneered a new approach to the collection and presentation of market intelligence that online retailers rely on to stay ahead."
Upstream Commerce was founded Peleg and Shai Geva.
Published by Globes, Israel business news - www.globes-online.com - on April 5, 2011
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