Pricefx acquires France-based AI pricing software startup Brennus Analytics
We last wrote about Pricefx in 2019 after the Munich, Germany-based startup raised additional $25.3 million to grow its cloud pricing software to expand into the US market. The startup has experienced tremendous growth since our last story.
Yesterday, Pricefx announced it has acquired France-based AI pricing software startup Brennus Analytics. Brennus uses a modular, proprietary AI technology to provide unique optimization capabilities highly applicable to the challenges of complex B2B environments. The transaction will bring state-of-art technology and a team of exceptionally talented AI and data science professionals to accelerate Pricefx’s AI capabilities in its price optimization software. Financial terms of the deal were not disclosed. This is the first strategic acquisition that Pricefx has executed since closing its series B round of venture financing in November 2019.
Founded in 2015 by Emilie Gariel, Florent Dotto, and Gregoire Saint-Guily, the Paris, France-based Brennus Analytics started in Toulouse, in the south of France, with the meeting of artificial intelligence researchers passionate about technological innovation and eager to find a practical application for it. After several years spent testing the technology on a number of projects, the area of pricing emerged as the obvious choice: complex, structured around (lots of) data, of key importance, and having a major impact on business success. The team expanded to include experts in pricing, marketing and business.
Brennus uses a modular, proprietary AI technology to provide unique optimization capabilities highly applicable to the challenges of complex B2B environments. The transaction will bring state-of-art technology and a team of exceptionally talented AI and data science professionals to accelerate Pricefx’s AI capabilities in its price optimization software.
“In today’s fast-moving business climate, being able to use pricing as a lever to achieve revenue and profit goals is more important than ever,” said Marcin Cichon, CEO and co-founder at Pricefx. “The AI technology and deep bench of talent we are bringing in from Brennus will enable us to deliver strategic product enhancements that will allow Pricefx to set a new standard for price optimization. With Brennus, Pricefx is building on the impressive momentum we have already created in serving our customers with fast, flexible and friendly solutions for the past 9 years. Our goals and vision remain unchanged: using our Passion for Pricing to deliver the best pricing platform on the planet.”
Founded in 2011 by Christian Tratz, Marcin Cichon, and Martin Wricke, Pricefx offers a complete pricing platform with modules for Price Analysis, Quoting (CPQ), List Price Management, Rebate Management, Promotion Management, and Price Optimization. The platform can be integrated seamlessly into all leading CRM solutions as well as connect with ERP, POS and other systems. PriceFX delivers a complete price optimization and management platform based on native cloud architecture, providing industry leading time to value and total cost of ownership advantages to customers.
Combining Brennus’ innovations in AI for pricing with Pricefx’s ability to productize and commercialize at scale brings to market a solution greater than the sum of its parts, enabling the company to better meet customers’ needs in a rapidly changing business climate. Additionally, Brennus’ location will enable Pricefx to expand its presence in France and better support existing customers in the region.