German pricing software Pricefx has secured $65 million in Series C funding to continue the company’s global expansion. The round was led by Apax Digital, the growth equity arm of Apax Partners, with participation from Munich’s Digital+ Partners.
In a press release, the company says it's experienced the same surge of interest that many other digital businesses have seen during the coronavirus lockdowns. Specifically, Pricefx has signed more than a dozen new customer deals since March of this year. Companies like Bosch, Iron Mountain, Media Markt and Michelin use the software to dynamically manage and optimise prices across all channels.
Commenting on the decision to invest, Apax Digital partner Mark Beith defines the problem: “Companies are abandoning inefficient manual processes, disparate spreadsheets, and sub-optimal prices, and embracing Pricefx’s next-gen software, which dynamically manages, optimizes and updates prices across all channels,” adding that the firm shares “Pricefx’s passion for making pricing software easier, faster and more accessible.”
Founded in 2011 near Munich, the Bavarian company has opened offices in Prague; Wollerau, Switzerland; Chicago; and Brisbane, Australia. With $130 million raised to date, including a €48 million Series B round that closed last November, Pricefx has also started moving on its acquisition plans, buying French pricing software Brennus Analytics two months ago.