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. The new capital will be used to expand Feedvisor’s product offering and accelerate the growth of its US operations. Based in Ramat Gan, the company has developed algorithmic repricing and demand planning for eCommerce marketplace sellers.
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.”
This latest round comes on the heels of consistent growth for Feedvisor. In each of the past three years, Feedvisor’s revenue and workforce have grown 100%. Today, Feedvisor has 100 employees and manages over $2 billion in GMV. The company plans to double its staff this year across all locations.
“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,” said Larry Bohn, managing director of General Catalyst. “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.”
Published by Globes [online], Israel business news - www.globes-online.com - on January 31, 2017
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