SUNNYVALE, Calif.--(BUSINESS WIRE)--Boomerang Commerce, an innovator in omnichannel pricing technology, announced that three additional Internet Retail Top 100 companies—Office Depot, Sears, and Groupon—have deployed Boomerang’s Price Perception Index™ and rapid pricing testing platform. The company also announced new executive hires to scale operations, sales, marketing and engineering as Boomerang accelerates growth.
Today, top omni-channel retailers realize $20M in incremental revenue and $9M in incremental margins for every $1B in revenue they run through the Boomerang platform. Boomerang enables this revenue growth and protects margins by rapidly analyzing, testing and deploying smart pricing, inventory and assortment strategies. These retailers gain an unfair advantage by leveraging Boomerang’s deep understanding of how to price products effectively and maximize not just individual transactions but also Customer Lifetime Value (LTV).
“In the hyper-competitive online retail environment, sophisticated real-time price optimization is table stakes for the world’s top retailers. Their thirst for a differentiated advantage in price strategy has driven 4X growth in Boomerang’s revenues since our Series A funding nine months ago,” said Guru Hariharan, Boomerang CEO. “Our data science-driven pricing technology already delivers pricing decisions for over $2 billion in annual sales, and makes over 1.5 million pricing decisions every day for ecommerce and omni-channel retailers.”
In addition, Boomerang unveiled two executive hires to help scale the team and the company’s global sales and marketing efforts.
Shane Yu, technology startup veteran and analytics expert, joins as Vice President of Customer Success. Yu was previously VP of Services at Nomis Solutions, a SaaS provider of Big Data customer analytics for retail banks. His team drove high double-digit increases in profits and revenues for four consecutive years of customer expansion. Yu previously held leadership and analytics roles at SilverSpring Networks, Avaya and NASA, among other organizations.
Corinna Krueger joins Boomerang as VP Marketing from Instart Logic. During her tenure, Instart Logic grew sales 5x and added numerous Internet Retailer Top 500 companies as customers. Previously Krueger led Marketing at Cotendo, a web and mobile application acceleration provider backed by Sequoia and Benchmark Capital. Krueger’s marketing programs drove the company to eight-figure sales, leading to a $292 million acquisition of Cotendo by Akamai Technologies.
“We are delighted to welcome Shane and Corinna to our leadership team. They will add crucial expertise as we broaden our footprint into key markets,” added Hariharan. “Their collective experience in growing disruptive companies will help us rapidly scale Boomerang Commerce and further cement our market-leading position.”
About Boomerang Commerce
Boomerang Commerce is an innovator of omnichannel pricing technology, already in use by the largest online commerce companies in the world. Led by veterans from Amazon, eBay, Adobe and McKinsey, Boomerang leverages complex optimization methods, machine learning, and real-time data analytics to drive dynamic pricing based on business rules and strategies. The company is funded by Madrona Venture Group and Trinity Ventures and was named a Top 50 big data analytics company in 2014.