Company inked 12 new customers in Q2 across retail, CPG, energy, manufacturing and technology industries
Pricefx, the global leader in cloud pricing software, announced another quarter of spectacular growth during its fiscal second quarter ending June 30. The company delivered 134% year-over-year revenue growth, with annual recurring revenue (ARR) increasing by 90%. The impressive numbers validate the acceptance of Pricefx’s leading price optimization and management platform by global enterprises. The company signed 12 new customers in the second quarter, including Certain Teed, Schneider Electric, Oerlikon Metco and Spinner Group.
Pricefx currently has more than 90 customers across 37 countries, which include some of the largest manufacturing, retailing and energy businesses in the world. In the year to date, the company expanded its footprint in Chicago and added more than 40 employees to its ranks globally.
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“This quarter is the latest chapter in tremendous growth for Pricefx,” said Patrick Adams, chief revenue officer of Pricefx. “Demand for a true cloud-native pricing platform is massive, and global businesses are increasingly choosing Pricefx for its fast, flexible and friendly SaaS solution to help them increase revenue and profits. The metrics from Q2 highlight our ability to capture market share from pre-internet providers who can’t offer the rapid time to value and low total cost of ownership delivered by our industry leading platform.”
In July, Gartner Inc. included Pricefx in the Hype Cycle for CRM Sales Technology, 2019 as a Sample Vendor of Price Optimization and Management for B2B. The report states, “price optimization and management is close to the Plateau of Productivity because it is able to demonstrate quantifiable and tangible improvements in margin and revenue in successful implementations.” Gartner also believes that “PO&M will become more widespread as cost of deployment decreases and the demands for digital-enabled and algorithm-based pricing increase.”*
Pricefx completed its evolution to an enterprise-grade platform in Q2, announcing that subscribers of the company’s core SaaS product offerings receive full access to the entire platform feature set for no additional cost. By including the platform with core product subscriptions, Pricefx further lowered the total cost of ownership for its customers.
The 2019 SaaS Awards program named Pricefx a finalist in the category “Best SaaS Product for Sales / Marketing.” Winners will be announced at the end of August. Pricefx will also hold its first U.S. Accelerate event in Chicago Sept. 17-18, featuring discussions on pricing strategy and the future of the industry.
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