TEL AVIV, Israel, April 26, 2016 (GLOBE NEWSWIRE) -- Feedvisor, the Algo-Commerce company, announced today the launch of US-based offices in New York City and Seattle, which will support increased global demand and continued growth in US markets.
The decision to open new offices comes on the heels of explosive growth for the Tel Aviv-based Algorithmic Repricing and Revenue Intelligence Company. Over the past year, Feedvisor has doubled both its customer base and headcount, and now manages more than $1.5 billion in annual gross merchandise volume (GMV). This represents a growth of $500 million in the last six months.
“The global e-commerce market is continuing to grow rapidly and has already exceeded $1 trillion in gross merchandise sales, with pricing and real-time decision making being among the top challenges in this dynamic market,” said Victor Rosenman, CEO and Founder of Feedvisor. “Following the company’s exponential growth, we have decided to expand our US customer-facing operations on both the East and West Coasts.”
Feedvisor’s innovative repricing solutions are revolutionizing the e-commerce industry by focusing on machine-learning algorithms that map demand based on historical sales and current market data, eliminating personal bias. With solutions for both branded and private label products the company focuses on increasing product profit margins for third-party sellers.
The announcement of the new US-based offices follows a $5 million round of funding led by SquarePeg Capital last December.
For more information, visit www.Feedvisor.com.
About Feedvisor
Feedvisor is the pioneer of Algo-Commerce – the discipline of using Big Data and Machine Learning Algorithms to make business-critical decisions for online retailers. Feedvisor’s cloud-based Algorithmic Repricing and Revenue Intelligence solutions power millions of pricing decisions daily; providing retailers with actionable insights to maximize profitability and drive their business growth.
Feedvisor was founded in 2011 and has since become a true market leader. In the last year alone, Feedvisor’s customer base has grown by 250% and over $1.5 billion in GMV is managed on the Feedvisor platform. Clients have seen results of up to 67% increase in revenue and 78% increase in profit margins.
Feedvisor’s technology has won several prestigious industry awards, including the Red Herring Top 100 Global in 2014, and Frost and Sullivan’s Technology Leadership Award 2014.