Price f(x), a Pricing Optimization Software company with operations in Europe, US and Asia, today announced the closing of a €4 million funding round from Prague-based Credo Ventures, and London-based Talis Capital.
Founded in 2011 in Germany, Price f(x) is the maker of a full suite of SaaS-based pricing optimization tools which give medium and large corporations greater control and visibility over their margins and profitability. Among other functionalities, Price f(x) empowers sales forces with a Configure Price and Quote (CPQ) functionality to speed up the closing process, identify upselling and cross-selling opportunities and better manage on- and off-invoice discounts and rebates. The company is headquartered in Pfaffenhofen, Germany.
Price f(x) co-founder and CEO Marcin Cichon commented: “This year was PFX’s first step into transitioning from a very promising startup with clear differentiation and unique value proposition, into a world leader in pricing and CPQ SaaS solutions. With this investment, Credo and Talis have confirmed that PFX’s vision to disrupt established industry players is ready to be executed. Their financial and operational support will allow PFX to expand its existing commercial operations in North America, Europe and Asia, while sustaining the flexibility and speed of implementation of our solution. With this announcement, I would also like to take the opportunity to inform everyone that we will be hiring heavily in our sales and tech teams and will be eagerly looking for exceptional talent around the globe who want to take part in this exciting journey.”
Ondrej Bartos, partner at Credo Ventures said: “We became really impressed with Marcin and his team of highly experienced pricing optimization executives, and their hunger to disrupt this industry. What Price f(x) have accomplished to date is remarkable, and we’re really excited about what we believe they can deliver with more support.”