Competera, a Santa Monica, CA-based AI startup that builds an intelligent price optimization platform for retailers, has secured $3 million in seed funding.
SaaS Investors
The round was led by STRATMINDS, with participation from Flyer One Ventures, Verras Capital, SMRK Fund, Transform Partners Fund, and several angel investors.
Founded in 2018, Stratminds VC is a venture capital investment firm focused on Artificial Intelligence. Based in San Francisco, California, the firm prefers to invest in early-stage technology startups.
Competera Use of Funds
The company will use the funds to scale services supporting multinational retailers and expand further in the US retail sector.
About Competera
Co-founded by Oleksandr Halkin and Oleksandr Sazonov, Competera offers an intelligent price optimization platform for retailers, using a neural network trained on proprietary and industry data. The platform, known as the Competera Pricing Platform, enables retailers to set and maintain optimal prices across the entire pricing life cycle. The company’s latest product, Competera X, is a self-service version of the pricing tool for individual sellers of white-label products on digital marketplaces such as Amazon, Etsy, and Shopify. The company has more than 50 customers across 18 countries, including the US, UK, Germany, France and Italy. Its mission is to free retailers from pricing routines and save their time for more meaningful things.
Funding Details
Company: Competera Limited
Raised: $3.0M
Round: Seed Round
Funding Month: January 2024
Lead Investors: STRATMINDS
Additional Investors: Flyer One Ventures, Verras Capital, SMRK Fund, Transform Partners Fund
Company Website: https://competera.net/
Software Category: Pricing
Source: https://competera.net/resources/articles/competera-secures-3m-seed-to-enhance-ai-pricing-and-scale-services-supporting-multinational-retailers