Pricefx Closes Best Quarter in Company History Driven by Strong Demand for AI-powered Pricing Software
Company honored with awards for innovations in pricing
MUNICH & CHICAGO--(BUSINESS WIRE)--Pricefx, the global leader in AI-powered SaaS pricing software, today announced its largest revenue quarter in company history. Quarter-over-quarter net new annual recurring revenue (NNARR) for the quarter ending March 31, 2024 grew by 59% and effective ARR jumped by 45%. Pricefx initiated 12 new customer project go-lives globally, including leading companies in manufacturing, distribution, chemical, and other sectors, and 100% of new business projects will be implemented by the company’s industry leading partner ecosystem. Key new customer wins include Rolls Royce, Kohler, Calumet Specialty Products Partners, and Simpson Strong Tie Co.
“Customers choose Pricefx because we deliver innovative product advancements that enable companies to capture rapid ROI and significant long-term value. We empower companies to unlock new levels of pricing agility and realize profitable growth.”
“We kicked off a strong year by continuing to focus on helping businesses leverage AI to achieve their pricing goals,” said Ronak Sheth, Chief Executive Officer of Pricefx. “Customers choose Pricefx because we deliver innovative product advancements that enable companies to capture rapid ROI and significant long-term value. We empower companies to unlock new levels of pricing agility and realize profitable growth.”
In Q1 2024, Pricefx also delivered version 12.0 of its flagship, award-winning pricing platform that included capabilities such as actionable insights, product recommendations, new AI use cases and S/4 HANA integration. This latest version and its AI technology enables businesses to make better data-driven decisions around pricing. The company also announced plans to introduce Generative AI capabilities in the platform in 2024.
Pricefx was announced as the winner of the SAP Pinnacle Award for the SAP Store Category and a finalist in the AI Partner Innovation category. The SAP Pinnacle Awards is SAP’s premier global partner recognition and award program, with an elite group of only 16 partners worldwide out of more than 24,000 to achieve winner status for this year. In addition, the company won several product awards to start the year including being named an AI Excellence Award winner in the Generative AI category, winning gold in the 2024 American Business Awards® for Business or Competitive Intelligence Solution, and taking silver in the 2024 Stevie Awards for Sales & Customer Service for Business Intelligence Solution - new version.
CRN included Pricefx in the 2024 Partner Program Guide and named Jacob Childerson a 2024 Channel Chief. Viva Technology named Pricefx on the Top 100 Next Unicorns and the company was included in the Constellation ShortList™ for Price Optimization Solutions.
To further connect with customers, partners and pricing industry experts, Pricefx will host Accelerate 2024 on Sept. 4-5 in Atlanta. Accelerate brings together more than 500 leaders and influencers from global, cutting-edge companies to share pricing insights on business transformation, next-generation AI, and industry best practices.
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About Pricefx
Pricefx is the global leader in AI SaaS pricing software, offering an end-end-end platform solution that is fast to implement, flexible to configure, and friendly to learn and use. Since pioneering cloud-native pricing technology more than a decade ago, its leading AI price optimization and management capabilities deliver the industry’s fastest time-to-value with activation in 6 months or less and the industry’s highest average ROI of 7,000% in the first 12 months from activation. Pricefx’s award-winning solution is focused on productized industry use cases proven to solve the most common and complex pricing challenges for large enterprise B2B companies in manufacturing, distribution, process engineering, and select other verticals. It is the leading AI price optimization and management platform that enterprises rely on to dynamically Plan, Price, and Profit. Pricefx’s business model is entirely based on fairness, and the satisfaction and loyalty of their customers is recognized by years of leading rankings among customer review forums. For more information, please visit www.pricefx.com.
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