Pricefx adds to its team a group of deep AI and Cloud Executives of Brennus Analytics As they acquire the company
Fremont, CA: The global industry leader in native cloud pricing software, Pricefx, acquires Brennus Analytics, an AI pricing software startup based in France. Brennus Analytics uses a modular, proprietary AI technology to provide unique optimization capabilities highly applicable to the challenges of complex B2B environments. The transaction will bring state-of-art technology and a team of exceptionally talented AI and data science professionals to accelerate Pricefx’s AI capabilities in its price optimization software.
“In today’s fast-moving business climate, being able to use pricing as a lever to achieve revenue and profit goals is more important than ever,” said Marcin Cichon, CEO and co-founder at Pricefx. “The AI technology and deep bench of talent we are bringing in from Brennus will enable us to deliver strategic product enhancements that will allow Pricefx to set a new standard for price optimization. With Brennus, Pricefx is building on the impressive momentum we have already created in serving our customers with fast, flexible, and friendly solutions for the past nine years. Our goals and vision remain unchanged: using our Passion for Pricing to deliver the best pricing platform on the planet.”
The combination of Brennus’ innovations in AI for pricing and Pricefx’s ability to productize and commercialize at scale offers the market a solution greater than the sum of its parts. This also enables the company to better fulfill customers’ needs in a rapidly transforming business climate. In addition to this, Brennus’ location will allow Pricefx to expand its presence in France and better support customers in the existing regions.
Brennus’ AI technology-based pricing optimization software called “Adaptive Multi-Agent Systems” (AMAS) is transparent, predictive, prescriptive, fast, and flexible. It was devised in the late 1990s by the Toulouse Research Institute in Computer Science (IRIT). AMAS is founded on the principle of self-organizing autonomous agent networks, which are comparable to a living organism. The self-adapting system is particularly well-suited for large scale optimization and continuous learning.
“Based on our unique AI technology, we have developed the most efficient price optimization solution on the market, but it can only reach its full potential when backed by a competitive pricing solution. By joining Pricefx, we’ve teamed up with the best one,” said Florent Dotto, CTO for Brennus Analytics. “Our technology is well suited to mass optimization, and unlike other AI technologies, such as machine learning, it is transparent, fast, requires no training time, and can be reconfigured with new parameters on the go. Computation is executed almost in real-time, allowing users to test any pricing optimization scenario on the fly.”
Brennus Analytics was founded in 2015 by Gregoire Saint-Gully, Florent Dotto, Sylvain Peyruqeou, and Sylvain Rougemaille. The financial terms of the deal are not disclosed as this move is the first strategic acquisition that Pricefx has taken, after closing the Series B round of Venture Financing.