Major Investment for Pricing Data Firm PriceShape

Aarhus, Denmark-based pricing intelligence and competitor monitoring company PriceShape has raised an eight-digit sum from Copilot Capital - its first external funding.

PriceShape has developed software that allows retailers to customize pricing, aiming 'to secure profitability as well as competitive prices'. The company started out in 2018 and has grown to 100 employees and a market presence in 23 countries without any external funding: it now has 'a higher 8-digit amount in Euros/USD' thanks to an investment from London-based private equity firm Copilot Capital. Money will be used to further improve the firm's pricing robots, to integrate more AI, and for potential acquisitions. Founders Kasper Rittig Strand (pictured below) and Frederik Christiansen (pictured above) will continue as co-CEOs and as significant shareholders.

Christiansen says the funds will make it possible for the firm 'to achieve market leadership'. He comments: 'We are already the drivers of a fundamental change of the retail market. Actually, it has changed for good. Now, we will accelerate. Through the past six years, we have declined several funding possibilities - but we truly believe that the timing and partner is perfect. Copilot has been equally professional and excited about our work at PriceShape and what we can offer leading global brands... we are poised for future growth, and we truly believe that we can become the next Scandinavian unicorn, while we transform the market for pricing in the digital retail industry'.

Copilot Managing Partner John Messer comments: 'We were incredibly impressed by PriceShape's trajectory and the way they have run their business. The founders have built an exceptional system that turns raw data into valuable, actionable insights. It's not just about scraping millions of websites - what makes them stand out is how they enable their clients to act on the data easily. We truly believe in their vision and want to go on this journey with them'.

The firm is online at www.priceshape.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.